Tom Is in Charge of the Entire Accounting System at Lane

question 157

Multiple Choice

Tom is in charge of the entire accounting system at Lane Electronics.His job title is most likely

• A) budget analyst.
• B) controller.
• C) top accounting manager.
• D) chief accountant.
• E) chief bookkeeper.

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Definitions:

Communism

A political and economic ideology advocating for a classless society in which the means of production are owned collectively.

Market Economy

An economic system where economic decisions and the pricing of goods and services are guided solely by the aggregate interactions of a country's citizens and businesses with minimal government intervention.

Command System

A method of organizing an economy in which property resources are publicly owned and government uses central economic planning to direct and coordinate economic activities; socialism; communism. Compare with market system.

Laissez-faire Capitalism

An economic system where government intervention in business and markets is minimal, and the forces of supply and demand are allowed to regulate the economy.