An Example of How GNP Accounts for Services Provided by Foreign-Owned

question 23

Multiple Choice

An example of how GNP accounts for services provided by foreign-owned capital (and GDP does not) is

• A) earnings of a Spanish factory with British owners counts only in Spain's GDP.
• B) earnings of a Spanish factory with British owners counts only in Britain's GNP.
• C) earnings of a Spanish factory counts in Spain's GNP but are part of Britain's GDP.
• D) earnings of a Spanish factory counts in Spain's GDP but are part of Britain's GNP.
• E) earnings of a Spanish factory counts in Spain's GNP but not in Britain's GDP or GNP.

Identify and understand the institutions involved in the exercise of power and authority.

Understand the impact of political revolutions and social movements on social and political orders.

Differentiate between legitimate and illegitimate power and its consequences on social structures.

Recognize the influence of civil society in the political system.

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Definitions:

Segregation Of Duties

An internal control measure that divides responsibilities among different people to prevent fraud and errors.

Treasurer

An officer of an organization responsible for managing the institution’s budget, overseeing its investment strategy, and handling its financial planning, reporting, and record-keeping.

Outstanding Cheques

Checks that have been written and recorded in the issuing account but have not yet been cashed or deposited by the recipient.

Balance Per Bank

Balance per bank refers to the amount of money a business has in its bank account, as recorded by the bank, before reconciling any discrepancies with the company's records.