In Developing Countries,it Can Be Expensive and Time-Consuming for the Poor

question 77

Multiple Choice

In developing countries,it can be expensive and time-consuming for the poor to legalize their property ownership. Without legal title,the property cannot be used as ________ to borrow funds.

• A)collateral
• B)points
• C)interest
• D)restrictive covenants

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Definitions:

Net Income

The total earnings of a company after subtracting all expenses, including taxes and operating costs, from its total revenues.

Revenue Accounts

Accounts recording the income a company generates from its operations, not related to its investments or other sources.

Gain Accounts

Accounts reflecting increases in equity, other than those relating to contributions from equity participants, typically from transactions and other events affecting the entity.