In the Context of the Shifting Balance of Economic Power

question 60

Multiple Choice

In the context of the shifting balance of economic power in the global economy,which of the following factors has helped boost incomes and wealth in the African continent between 2000 and 2015?

• A) A one-child policy
• B) An increase in the price of agricultural products
• C) An increase in the size of the elderly population
• D) An easy immigration process for workers

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Definitions:

Journalizing

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

Transaction

An economic event or condition that directly changes an entity's financial condition or its results of operations.

Debit And Credit

Fundamental concepts in accounting that represent the increase or decrease in an account balance; debits increase asset or expense accounts, while credits increase liability, equity, or revenue accounts.

Chart Of Accounts

An organized list of all accounts in a company's financial system, which is used to classify transactions.