120 (15 marks) Country S is a country endowed with a lot of oil reserves located in Besides the oil sector, farming produce is the major output of the country. In the last decade, low oil prices, obsolete oil equipment, locust infi tation and oding in parts of the country adversely affected its GDP. Moreover, subsequent conflic and violence since its independence destroyed people's livelihoods. As a result, more than one million people of Country S resided in neighboring countries. The majority of government spending was used for military purposes, at the expense of other spending. A new hope of Country S comes from the formation of the new unity government and the ceasefire agreement in recent years. a. If you were a committee member of the World Bank helping Country S to improve its long run growth, suggest and explain some policies that Country Scan adopt based on the above information. (8 marks) b. What other policies could be done to promote its economic growth? (7 marks) Cengage Asia: High Paraphrasing Tool CengageBrain - My. C Trading Platform ICM McGraw-Hill Connect TK View of CRYPTOCU 8 / 8 148% + (b) Victory Co. has just bought a hammer costing $50 which can be used for 10 years. The accountant puts the whole cost of the hammer to the Income Statement as sundry expense in this year. (5 marks) (i) Name of Principle/Concept. (ii) Indicate whether the Principle/Concept has been APPLIED or VIOLATED. (iii) Explanation. END OF PAPER 120 (15 marks) Country S is a country endowed with a lot of oil reserves located in Besides the oil sector, farming produce is the major output of the country. In the last decade, low oil prices, obsolete oil equipment, locust infi tation and oding in parts of the country adversely affected its GDP. Moreover, subsequent conflic and violence since its independence destroyed people's livelihoods. As a result, more than one million people of Country S resided in neighboring countries. The majority of government spending was used for military purposes, at the expense of other spending. A new hope of Country S comes from the formation of the new unity government and the ceasefire agreement in recent years. a. If you were a committee member of the World Bank helping Country S to improve its long run growth, suggest and explain some policies that Country Scan adopt based on the above information. (8 marks) b. What other policies could be done to promote its economic growth? (7 marks) Cengage Asia: High Paraphrasing Tool CengageBrain - My. C Trading Platform ICM McGraw-Hill Connect TK View of CRYPTOCU 8 / 8 148% + (b) Victory Co. has just bought a hammer costing $50 which can be used for 10 years. The accountant puts the whole cost of the hammer to the Income Statement as sundry expense in this year. (5 marks) (i) Name of Principle/Concept. (ii) Indicate whether the Principle/Concept has been APPLIED or VIOLATED. (iii) Explanation. END OF PAPER