The Law of One Price Would Apply to Which of the Following

question 7

Multiple Choice

The law of one price would apply to which of the following goods or services sold in Japan and Australia?

• A) office building
• B) auto repair
• C) manicure
• D) none of the above

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Definitions:

Insurance Expense

Insurance expense is the cost incurred by a company to obtain coverage against risks, reported as a non-operating expense.

Property Tax

Taxes levied by local governments based on the assessed value of real estate property owned.

Accounts Receivable

An asset, which is a claim against the customer created by selling merchandise or services on credit.

Credit Sales

Sales made on credit, where the payment from the customer is received at a later date.