Which of the Following Is True of Modern Technology

question 106

Multiple Choice

Which of the following is true of modern technology?

• A) Improvements in technology have propelled the production possibilities and living standards of people in North America, Western Europe, and several other parts of the world.
• B) In low-income countries, proven technologies can be either emulated or imported at a low cost.
• C) Often, perverse institutions and policies in low-income countries undermine the gains from improvements in technology.
• D) All of the above.

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Definitions:

Unearned Revenue

Money received by a company for goods or services yet to be delivered or provided, considered a liability until the goods or services are delivered.

Double Rule

A method used in accounting to draw attention to totals or end of reports by placing two lines beneath them for emphasis.

Total

The aggregate amount or sum of individual items or elements in a set or group.

Closing Journal Entries

The entries made at the end of an accounting period to transfer the balances in temporary accounts to permanent accounts and prepare the company's books for the next period.