A Major Factor Contributing to the Slow Growth Rate of Less-Developed

question 214

Multiple Choice

A major factor contributing to the slow growth rate of less-developed economies is

• A)the lack of well-defined and enforceable property rights.
• B)the lack of natural resources.
• C)the lack of workers.
• D)the high rate of illiteracy.

---

Definitions:

Beginning Inventory

The value of a company's inventory at the start of an accounting period.

Production Budget

is a financial plan that estimates the cost of production based on projected product volumes, including costs of materials, labor, and overhead.

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated using inventory valuation methods such as FIFO, LIFO, or weighted average.

Budgeted Sales

Projected amounts of sales for a future period, used for planning and performance evaluation purposes.