A Country with No Trade and No Borrowing and Lending

question 93

Multiple Choice

A country with no trade and no borrowing and lending relationships with other countries is known as a(n)

• A)planned economy.
• B)market economy.
• C)open economy.
• D)closed economy.

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Definitions:

Environmental Costs

Expenses incurred by companies to prevent, detect, and correct environmental damage they have caused.

Prime

In finance, often refers to the prime rate, which is the interest rate banks charge their most creditworthy customers. In manufacturing, can also mean prime costs, which are direct costs of production.

Environmental Management Accounting

The integration of environmental and financial decision-making processes to improve environmental and economic performance.

Traditional Management Accounting

An accounting approach focused on financial information, cost control, and budgeting techniques within an organization, traditionally emphasizing internal reporting.