Two Developments That Contributed to Recent Economic Growth Are Innovations

question 19

True/False

Two developments that contributed to recent economic growth are innovations in telecommunications and in computer technology.

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Definitions:

Credit Sales

Sales made on credit, allowing customers to purchase goods or services immediately and pay for them at a later date.

Accounts Receivable

Amounts owed to a business by its customers from sales or services provided on credit.

Cash Sales

Cash Sales refer to transactions where goods or services are paid for with cash immediately at the point of sale, without any delay in payment.

Credit Sales

Sales made by a business where the payment is deferred to a later date, allowing the buyer to take possession of goods or services immediately but pay later.