The Primary Source of Purchasing Power Used to Buy Imported

question 42

Multiple Choice

The primary source of purchasing power used to buy imported goods is

• A) the monetary sector.
• B) the balance of payments deficit.
• C) the exports of a nation.
• D) taxation and other revenue-generating activities.

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Definitions:

Year-End Costs

Expenses or costs incurred by a business at the end of the fiscal year; these may include adjustments, accruals, and prep for financial reporting.

Inventory Cost Flow

An accounting method that determines the value of sold inventory and ending inventory, can be FIFO, LIFO, or Average Cost.

Net Income

The total profit of a company after all expenses and taxes have been subtracted from total revenue. It represents the company's bottom line.