If the _______ Differ Between Two Countries, This Suggests the Possibility

question 174

Multiple Choice

If the _______ differ between two countries, this suggests the possibility for mutually advantageous trade.

• A) opportunity costs
• B) marginal costs
• C) absolute costs
• D) fixed costs

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Definitions:

Cost Of Goods Sold

The costs directly related to the creation of products sold by a company, including expenses for raw materials and wages.

Worksheet

A paper or electronic tool used by accountants to gather information for adjusting entries and preparing financial statements.

Trial Balance

A list of accounts and their balances at a given time.

Terms 2/10 N/30

Terms 2/10 N/30 is a commercial credit term indicating that a buyer can deduct 2% of the invoice amount if payment is made within 10 days; otherwise, the full invoice amount is due in 30 days.