Development

Development is a change which brings improvement in the lives of everyone living in the country. This note contains the description of development.

Summary

Development is a change which brings improvement in the lives of everyone living in the country. This note contains the description of development.

Things to Remember

  • The positive changes brought by humans in their life is called development. 
  • Development is a change which brings improvement in the lives of everyone living in the country. 
  • Development never stops rather the pace of development can be slow or fast. If the citizens of the nations are honest, hardworking and energetic, then the nation will develop fast.
  • The economy of a country is stronger if it has more export and less import. 
 

MCQs

No MCQs found.

Subjective Questions

Q1:

What are the steps for locating errors in the trial balance?


Type: Short Difficulty: Easy

Show/Hide Answer
Answer: <p>While examining the book of accounts for locating the errors, it would be better to follow some steps one after another serially to make the re-examination work easier and quicker. For this reason, the following steps should be followed for locating the errors: -</p> <ol><li>Check whether the total of the trial balance has been obtained correctly or not.</li> <li>Check whether the balances of the ledger accounts have been extracted in the trial balance correctly or not.</li> <li>Check whether the balances of assets, liabilities and capital have been brought down in the new books correctly or not.</li> <li>Check whether the balances of the ledger accounts have been obtained correctly or not.</li> <li>Check the total of the subsidiary books.</li> <li>Compare the items of the trial balance of current year with that of previous year.</li> <li>Verify the posting and journalizing.</li> </ol>

Q2:

What is adjustment and closing of the trial balance?


Type: Very_short Difficulty: Easy

Show/Hide Answer
Answer: <p>Adjustment and closing of the trial balance is an artificial process of closing. It is the process of determining the difference amount of the trial balance and making it equal by inserting the suspense account.</p>

Q3:

What is an suspense account?


Type: Very_short Difficulty: Easy

Show/Hide Answer
Answer: <p>The suspense account is the temporary means for making the trial balance equal. It helps to adjust the difference amount and close the trial balance. It gives the way for preparing the final accounts in time.<br>The suspense account is newly opened account with the difference amount of the trial balance.</p>

Videos

Rectification of errors
Accounting Error Correction
Development

Development

The positive changes brought by humans in their life is called development. Thus, it can be said that development is a change which brings improvement in the lives of everyone living in the country. Development never stops rather the pace of development can be slow or fast. If the citizens of the nations are honest, hardworking and energetic, then the nation will develop fast. The citizens are educated, trained, healthy and wealthy in the developed nation. It is also called human resource.

Development Source: http://2.bp.blogspot.com/-xBAz6yD7JoQ/VZLmlV_guEI/AAAAAAABG_Y/fRLSHf0pc6M/s1600/Ahmedabad-Population.jpg
Figure: Developed City
Source: http://2.bp.blogspot.com/

The level of development is not equal everywhere. Some countries such as those in Western Europe have been developing rapidly for 200 years. These countries are now considered as developed countries. Although there are poor people, most people enjoy the high standard of living. Other countries, mainly Africa, Asia and South America have only been developing for about 50 years and for historical or geographical reasons these developing nations are much poorer. In these countries, an average living standard of people is low.

Development Source: http://www.uaeinteract.com/news/article_pics/uae-65897.jpg
Figure: Development
Source: http://www.uaeinteract.com

Development takes place with the proper utilisation of available means and resources. Factors such as health, education, transport and communication are essentials for providing services for people and to run developmental activities. So these are called infrastructures of development. A country with good systems of these factors can run development easily. Development is a change which brings improvement in the lives of everyone living in the country. Above all good leadership and its execution cannot be expected from corrupt leaders.

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Figure: Ways of Development
Source: https://a2ua.com


The economy of a country is stronger if it has more export and less import. Money earned from exports, goods sold abroad and is lost by buying imports from other countries. Though Nepal loses a lot in its imports, it has been earning well from foreign employment. In many parts of the world, the fruit of development is not equally enjoyed by all the people. There is a huge gulf between rich and poor in capitalist societies. So, countries should make an effort to achieve development that can benefit the poor societies more.
Development
Figure: Development

Lesson

We, Our Community and Nation

Subject

Social Studies and Population Education

Grade

Grade 8

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