A Fundamental Reason for a Country's Development of Advanced and Specialized

question 31

Multiple Choice

A fundamental reason for a country's development of advanced and specialized factors of production is often its: ​

• A) lack of basic resources.
• B) monetary wealth.
• C) small workforce.
• D) protective tariffs.

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Definitions:

Cash Account

A cash account is a financial account that records cash transactions, including cash receipts and payments, managing the flow of liquid assets.

Journal Entry

A record in accounting that represents a transaction and its effect on various accounts, ensuring the debits and credits balance.

Ledger

A book or collection of accounts in which account transactions are recorded and categorized to show changes in financial positions.

Total Debits

In accounting, this refers to the total sum of all debit entries recorded in all accounts for a given period.