The Rule of 72 Implies That a Country with a Growth

question 50

Multiple Choice

The rule of 72 implies that a country with a growth rate of 6 percent will double its income in about:

• A)6 years.
• B)8 years.
• C)12 years.
• D)16 years.

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Definitions:

Revenues

Income earned by a company from its business activities, typically from the sale of goods and services to customers.

Fees Earned

Income gained from providing services, reflecting work completed but not necessarily paid for by the client.

Classification

The process of organizing data, objects, or information into categories or groups based on shared characteristics or criteria.

Normal Balance

The side (debit or credit) of an account that is typically increased. For assets and expenses, it's the debit side; for liabilities, equity, and income, it's the credit side.