Since Selling to Foreign Customers Is Not Fundamentally Different from Selling

question 61

True/False

Since selling to foreign customers is not fundamentally different from selling to domestic ones, a firm's export department can get by knowing only a little about foreign markets.

---

Definitions:

Credits

In accounting, credits are entries that decrease assets or increase liabilities and equity on a company's balance sheet.

Double-entry Bookkeeping System

A method of bookkeeping where every entry to an account requires a corresponding and opposite entry to a different account, ensuring the accounting equation is always in balance.

Fraud

A deliberate deception to secure unfair or unlawful gain, or to deprive a victim of a legal right.

Trial Balance

A bookkeeping report that lists the balances in each general ledger account at a specific time, ensuring that debits equal credits.