Which of the Following Is Considered to Be a Defining

question 36

Multiple Choice

Which of the following is considered to be a defining feature of liberal democracies?

• A) collective decisions are made by referenda
• B) collective decisions prioritize unity
• C) the powers of government are limited by law
• D) the economy includes public ownership of firms

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Definitions:

Installment Note

A loan that requires regular payments, or installments, of principal and interest over a set period, often used for buying large, expensive items.

Journal Entry

A record in accounting that represents a transaction or financial event affecting the entity's financial statements, involving at least one debit and one credit.

Annual Year-End

The conclusion of a 12-month financial year period on which a company's annual financial statements are based.

Installment Note

A loan or credit agreement that requires a fixed number of payments over a specified period of time.