In Developing Countries, There Is More Reliance on _______ as Opposed

question 93

Multiple Choice

In developing countries, there is more reliance on _______ as opposed to _______ for government revenue.

• A) tax collection; tariffs
• B) tariffs; tax collection
• C) tariffs; quotas
• D) quotas; tariffs

---

Definitions:

Cash Payment

A transaction where a payment is made using physical currency or through electronic funds transfer, directly settling an obligation.

Cash Account

An account that records cash transactions, including cash received and disbursed, maintained by a company to keep track of its liquid assets.

Recorded

This term signifies the process of documenting transactions and events in the accounting records of a business.

Major Account Groups

Categories used in accounting to organize and summarize financial transactions, including assets, liabilities, equity, revenue, and expenses.