A Current Account Surplus Indicates That Canada Is ________ Its

question 48

Multiple Choice

A current account surplus indicates that Canada is ________ its claims on foreign wealth, while a deficit indicates that this country is ________ its claims on foreign wealth.

• A) reducing; reducing
• B) reducing; increasing
• C) increasing; reducing
• D) increasing; increasing

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Definitions:

Beginning Inventory

The value of all the inventory held by a business at the start of an accounting period.

Equivalent Units

A concept used in cost accounting to standardize heterogeneous units of production, making them quantitatively comparable.

Equivalent Units

Equivalent units are used in cost accounting to represent the amount of work done during a period, expressed in terms of fully completed units.

Direct Materials

These are the raw materials that are directly traceable and integral to the finished product in the manufacturing process.