Which of the Following Is an Important Ingredient for the Achievement

question 44

Multiple Choice

Which of the following is an important ingredient for the achievement of efficient economic organization?

• A)highly restrictive exchange rate controls
• B)secure property rights and political stability
• C)high and variable rates of inflation
• D)high marginal tax rates

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Definitions:

Debit

A financial record that boosts asset or expense ledgers or reduces liability, equity, or income ledgers.

Credit

An accounting entry that increases liabilities and equity or decreases assets, and in financial terms, it refers to the provision of resources (such as funds) by a creditor to a borrower.

Compound Entry

An accounting entry that involves more than two accounts, where there are multiple debits, multiple credits, or both in a single transaction.

Account

A summary document that captures every transaction associated with an individual entry in the accounting balance equation.