Haiti Has a Lower Literacy Rate (The Percentage of Those

question 2

Multiple Choice

Haiti has a lower literacy rate (the percentage of those over 15 who can read and write) compared to other Latin American and Caribbean countries. Where does this low literacy rate fit into the factors that explain the wealth of nations?

• A)It indicates that Haiti is short of physical capital.
• B)It shows that it lacks entrepreneurship.
• C)It shows a lack of natural resources.
• D)It indicates that Haiti is short on human capital.

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Definitions:

Accumulated Depreciation

The total amount of depreciation that has been recorded for an asset since it was acquired.

Interest Payable

A liability account that represents the amount of interest expense that has been incurred but not yet paid to creditors.

Correcting Entries

Adjustments made in accounting records to amend errors or omissions in the previously recorded transactions.

Accumulated Depreciation

The aggregate cost of a tangible asset that has been amortized as a depreciation expense from the time the asset started being used.