Structural Adjustment Programs Are Designed To

question 9

Multiple Choice

Structural adjustment programs are designed to:

• A) promote the growth of industry rather than agriculture.
• B) assure that scarce foreign exchange is rationed in accordance with a five-year plan.
• C) dismantle controls that interfere with market allocation and efficiency.
• D) stop inflation.

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Definitions:

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary accounts' balances to permanent ones, thereby resetting the temporary accounts for the next period.

Permanent Accounts

The balance sheet accounts whose balances are carried over into future accounting periods, not closed at the end of the fiscal year.

Posting

The process of recording financial transactions to the appropriate accounts in the general ledger.

Adjusting Entries

Journal entries made in accounting records at the end of an accounting period to update the accounts for any accruals and deferrals that were not recorded during the accounting period.