A Situation in Which a Country Does Not Trade with Other

question 56

Multiple Choice

A situation in which a country does not trade with other nations is called

• A) inertia.
• B) inefficient.
• C) autarky.
• D) protectionist.
• E) scarcity.

---

Definitions:

Sales Revenue Approach

A method of recognizing revenue based on the sales transactions processed by a company.

Unadjusted Year End

This term refers to the financial results and statements of a company that have not gone through adjustments for various accounting entries at the end of the fiscal year.

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account column totals to ensure a company's bookkeeping system is mathematically correct.

Allowance for Uncollectibles

A contra-asset account used to reduce accounts receivable to its net realizable value by estimating the amount of receivables that may not be collected.