Hundreds of Thousands of Producers Working Across the World Cooperate

question 70

Multiple Choice

Hundreds of thousands of producers working across the world cooperate to ensure that millions of consumers can have the goods and services they desire. These producers do not know each other and are not coordinated by a central agency. Their actions are directed simply by:

• A) self interest.
• B) robotic technology.
• C) their governments.
• D) computer technology.

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Definitions:

Statement of Cash Flows

An accounting statement reflecting how shifts in balance sheet entries and earnings affect cash and cash equivalents, separated into areas of operating, investing, and financing.

Operating Activity

Activities directly related to the primary operations of a company, generating the main source of revenue and expenses.

Liability Section

A portion of the balance sheet that lists a company's obligations and debts, including both current and long-term liabilities.

Accounts Receivable

Accounts receivable are amounts owed to a business by customers for goods or services delivered but not yet paid for.