Table 31-2 Colombian Trade Flows

question 158

Multiple Choice

Table 31-2
Colombian Trade Flows
-Refer to Table 31-2.​ What are Colombian exports?

• A)110 billion pesos
• B)100 billion pesos
• C)80 billion pesos
• D)​60 billion pesos

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Definitions:

Adjusting Journal Entry

An accounting entry made in the books at the end of an accounting period to allocate revenues and expenses to the period in which they actually occurred.

Supplies Account

An account used to track the cost of supplies consumed by a business during an accounting period.

Supplies Expense

encompasses the cost associated with items used in daily operations, not directly tied to the production of goods or services but necessary for conducting business.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against a fixed asset since it was put into use, representing its reduction in value over time.