If No Foreign Companies Produce in a Country, but Many

question 26

Multiple Choice

If no foreign companies produce in a country, but many of the country's companies produce abroad, then it is probably true:

• A) the country's GDP equals its domestic income.
• B) the country's GNP exceeds its GDP.
• C) the country's GNP and GDP are equal.
• D) the country's GDP exceeds its GNP.

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Definitions:

Deposits in Transit

Cash and checks that have been received and recorded by a business but not yet reflected in the bank's records.

Bank Statement

A summary of all checking account transactions mailed to the depositor or made available online by the bank each month.

Credit Memo

A document issued by a seller to a buyer, reducing the amount that the buyer owes to the seller under the terms of an earlier invoice.

Note Receivable

A financial asset representing the right to receive a specific amount of money, either on demand or at a specified future date.