- Based on the Information in Table 35

question 59

Multiple Choice

- Based on the information in Table 35.1,assume China and the United States have the same amount of resources with which to produce soybeans and computers and they produce no other goods.The output of computers and soybeans would be greatest if

• A)China specialized in producing soybeans,and the United States specialized in producing computers.
• B)Both countries prohibited trade.
• C)China specialized in producing computers,while the United States specialized in producing soybeans.

Identify and adjust net cash provided by (used in) operating activities.

Calculate adjusted cost of goods sold to a cash basis using the direct method.

Identify and adjust net cash provided by (used in) investing activities.

Identify and adjust net cash provided by (used in) financing activities.

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Definitions:

Specialize

To concentrate on and become expert in a particular subject or skill.

Trade

The exchange of goods, services, or both between two or more parties, either within a country or internationally.

Production Possibilities Curve

A graph that shows the various combinations of outputs that a society can produce if all its resources are being used efficiently.

Trading Possibilities Curve

A graph that shows the maximum amount of goods a country can produce, given its resources, and hence the possible extents of trade with other countries.