Which of the Following Statements Is Correct

question 34

Multiple Choice

Which of the following statements is correct?
i.The difference between the value of a country's exports and its imports is known as the trade balance.
ii.The difference between the value of a country's exports and its imports is known as net exports.

• A) i) and ii) are both true
• B) i) and ii) are both false
• C) i) is true and ii) is false
• D) i) is false and ii) is true

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Definitions:

Common-Sized Income Statement

An income statement in which each line item is expressed as a percentage of sales, facilitating the comparison across different periods or companies.

Net Income

The final profit of a company calculated by deducting all expenses and taxes from its revenue.

Common-Sized Financial Statement

A financial statement in which each line item is expressed as a percentage of a certain base figure, facilitating comparison across periods or companies.

Percentage

A fraction or ratio expressed as a part of 100.