One Reason Financial Systems in Developing and Transition Countries Are

question 51

Multiple Choice

One reason financial systems in developing and transition countries are underdeveloped is

• A)they have weak links to their governments.
• B)they make loans only to nonprofit entities.
• C)the legal system may be poor making it difficult to enforce restrictive covenants.
• D)the accounting standards are too stringent for the banks to meet.

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Definitions:

Materially Changed

Refers to a significant alteration in the condition or content of a document, item, or agreement that affects its utility or value.

Obligations

Duties or responsibilities imposed by law, contract, or moral duty that require a party to act or refrain from acting in a certain way.

Commercial Unit

Under the UCC, any unit of goods that is treated by commercial usage as a single whole. It may, for example, be a single article or a set of articles such as a dozen, bale, gross, or carload.

Accepted only

A condition or specification that only the accepted or approved items, proposals, or bids are considered, excluding all others.