To the Extent That a Country Sells More Goods and Services

question 35

Multiple Choice

To the extent that a country sells more goods and services abroad than it buys,there will be:

• A)a greater demand for its currency.
• B)a surplus production of goods and services.
• C)a scarcity of goods and services within the country.
• D)a need for revaluation of its currency.
• E)time for fluctuating its currency.

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Definitions:

Credits

Entries that increase liabilities, revenues, or equity, or decrease assets or expenses in accounting.

Transferring

The process of moving items, such as data, assets, or inventory, from one location or account to another.

Ledger Accounts

Individual records within the general ledger that show the transactions and balances for each accounting period, relating to specific assets, liabilities, equity, revenues, and expenses.

Recording

The process of documenting financial transactions in the accounting records of a business.