For an Undeveloped Country Considering Expansion of Tourism, the First

question 13

Multiple Choice

For an undeveloped country considering expansion of tourism, the first step should be to:

• A) plan the location and number of access roads.
• B) decide on the best location for needed hotels.
• C) inventory their tourist attractions.
• D) hire expert consultants.
• E) review the likely demand.

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Definitions:

Installment Note

A loan that requires regular payments, or installments, over a period, which covers both principal and interest.

Interest Expense

The cost incurred by an entity for borrowed funds, typically expressed as a yearly rate.

Installment Note

A debt instrument that requires a series of periodic payments consisting of both principal and interest.

Interest Expense

The cost incurred by an entity for borrowed funds, reflected as a financial charge for the use of the borrowed money.