Countries That Are Technologically Backward Can Grow Faster by _____

question 64

Multiple Choice

Countries that are technologically backward can grow faster by _____.

• A)developing new technologies
• B)adopting existing technologies
• C)adopting the policy of import substitution
• D)focusing more on the agricultural sector
• E)not accepting aid from abroad

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Definitions:

Master Budget

A comprehensive financial plan for an organization, encompassing all of its budgets for sales, production, overhead, etc., for a specific period.

Long-Range Budget

A financial plan that extends beyond the typical fiscal year, often spanning three to five years, to support strategic planning.

Participative Budgeting

A budgeting process where both management and employees participate in setting budgets, improving accuracy and commitment.

Budgeting Slack

The practice of underestimating revenue or overestimating expenses while preparing a budget to create a cushion or slack for unexpected situations.