The Deepwater Horizon Oil Spill Taught Us That

question 22

Multiple Choice

The Deepwater Horizon oil spill taught us that

• A)giant firms are often too ambitious.
• B)even the most professional risk plans can ignore some major risks.
• C)confused responsibilities can emerge from trying to coordinate complex teams and systems.
• D)b and c.

Define social overhead capital and differentiate between types of capital.

Recognize the role of government in building infrastructure and managing economic policies for development.

Assess the effectiveness of export promotion policies and industrial policies in economic development.

Identify the relationship between a country's development level and its economic structure (including its agricultural output).

---

Definitions:

Debit Balance

Occurs when the total of debits in an account exceeds the total of credits, which can be typical for accounts like expenses, assets, and losses.

Allowance for Doubtful Accounts

A contra-asset account used to estimate the portion of a company's accounts receivable that may not be collectible.

Allowance for Doubtful Accounts

A contra-asset account that represents the estimated portion of accounts receivable that may not be collectible.

Uncollectible Receivables

Amounts due from customers that are considered unlikely to be collected and are written off as a loss.