Why Is Zambia an Example of Failed Potential for Economic

question 68

Multiple Choice

Why is Zambia an example of failed potential for economic development?

• A)Although Zambia experienced substantial economic development after independence,its economic growth did not keep pace with that of countries like South Korea.
• B)Although Zambia had substantial natural resources and a respected national leader,its economy worsened instead of improved after independence.
• C)Although Zambia's economy grew steadily,much higher economic growth was expected because of the country's substantial natural resources.
• D)Zambia's economy worsened after independence because of severe ethnic conflict.

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Definitions:

Adjusting Entries

These are journal entries made in an accounting period to allocate income and expenditures to the period in which they actually occurred.

Journalize Transactions

The process of recording financial transactions in the journal as part of the accounting cycle.

Analyze Transactions

The process of examining financial transactions to understand their nature, how they affect the accounts, and how they should be recorded in the accounting system.

Correcting Entries

Journal entries made to amend previously recorded transactions or entries that were made incorrectly.