Which of the Following Is the Official Mandate of the IMF

question 46

Multiple Choice

Which of the following is the official mandate of the IMF and World Bank?

• A) to increase regional equality
• B) to facilitate development and ease financial crises
• C) to urge the passage of legislation regarding corporate responsibility
• D) to increase corporate profitability

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Definitions:

Accrual Basis Accounting

A method of accounting that records revenues when earned and expenses when incurred, regardless of when cash is exchanged.

Revenues

The income generated from normal business operations and includes discounts and deductions for returned merchandise.

Normal Balance Side

Normal Balance Side is the side (debit or credit) of an accounting ledger on which increases to the account are recorded, depending on the account type.

Double-Entry Accounting

An accounting method requiring every financial transaction to be recorded in two accounts, one debit and one credit, to keep the accounting equation balanced.