Choose the Word or Phrase in [ ] Which Will

question 31

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-Total assets on your personal balance sheet are $6,000 and liabilities are $2,000.Your solvency ratio is [67% | 33%].

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Definitions:

Anarchy

A state of society without government or law, often associated with disorder due to the absence of political authority.

Monarchy

A form of government with a monarch at the head, where the position is often hereditary.

Democracy

Democracy is a form of government in which power is vested in the people, who rule either directly or through freely elected representatives, allowing for the protection of rights and participation in decision-making processes.

Autocracy

A system of government where absolute power is concentrated in the hands of a single person or a dominant authority.