A Nation Records a Trade Surplus When

question 161

Multiple Choice

A nation records a trade surplus when:

• A) foreign remittances paid are more than foreign remittances received.
• B) net exports are positive.
• C) imports are greater than exports.
• D) net exports equal zero.

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Definitions:

Nonmanufacturing Costs

Nonmanufacturing costs are expenses not directly related to the production of goods, including selling, general, and administrative expenses.

Selling

The process of persuading someone to buy a product or service, a fundamental activity in business.

Administrative

Pertaining to activities related to the management and general operations of an organization, often involving tasks like paperwork, communication, and office upkeep.

Job Order Costing System

An accounting method used to track the production costs (materials, labor, and overhead) for specific jobs or batches of product.