Which of the Following Is Most Important for the Achievement

question 48

Multiple Choice

Which of the following is most important for the achievement of long-term economic growth and a high level of per capita income?

• A)abundant natural resources
• B)foreign aid
• C)policies and institutions that encourage productive activities
• D)institutions and policies that control the growth of population

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Definitions:

Trial Balance

A bookkeeping report that lists the balances of all ledgers in two columns, debits and credits, ensuring that total debits equal total credits.

Debit

An accounting entry that increases asset or expense accounts, or decreases liability, equity, or revenue accounts.

Credit

An accounting entry on the right side of an account ledger, recording increases in liabilities, equity, and revenue, or decreases in assets and expenses.

Recording Process

The act of documenting financial transactions systematically in the books of accounts of a business.