Which of the Following Can Explain Why Some Countries Have

question 191

Multiple Choice

Which of the following can explain why some countries have not experienced relatively high growth rates in real GDP per capita despite relatively low initial levels of real GDP per capita?

• A)Many of these developing countries do not have a functioning court system that can enforce laws.
• B)Countries that are relatively poor are more likely to experience wars and revolutions.
• C)Countries that are relatively poor are likely to have a lower quality of health care.
• D)all of the above

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Definitions:

Factoring Transaction

The process where a business sells its accounts receivable (invoices) to a third party (factor) at a discount, in exchange for immediate cash.

GAAP

Generally Accepted Accounting Principles, a set of rules and standards designed to ensure consistency, fairness, and accuracy in financial reporting and accounting practices in the U.S.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that is global in scope.

Factoring Transaction

A financial transaction where a business sells its accounts receivable to a third party at a discount to obtain immediate cash.