What Is True of Tianjin in China

question 20

Multiple Choice

What is true of Tianjin in China?

• A) It is China's largest industrial city.
• B) It is China's fastest growing industrial city.
• C) It has the closest economic ties with Japan.
• D) It is referred to as "Little Moscow."
• E) It harbors the world's largest and most modern port facilities.

---

Definitions:

LIFO

A rephrased definition: An accounting approach to inventory and cost of goods sold valuation that assumes the most recently acquired items are the first to be sold.

Ending Inventory

The value of goods available for sale or use at the end of an accounting period.

Net Realizable Value

The projected sales price of products subtracted by the cost associated with their sale or disposal.

Merchandise

Goods that are bought and sold by businesses; also refers to the commodities or products available for sale in retail or wholesale.