Which of the Following Is a Canadian Service Export

question 13

Multiple Choice

Which of the following is a Canadian service export?

• A)A Canadian buys dinner while travelling in Switzerland.
• B)A Swiss buys dinner while travelling in Canada.
• C)A Canadian buys a clock made in Switzerland.
• D)A Swiss buys a computer made in Canada.
• E)A Canadian buys a Canadian computer in Switzerland.

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Definitions:

Transactions

Financial events that affect the financial statements of a business, consisting of external trades with other entities as well as internal events.

Beginning Balances

The amounts in accounts at the start of a new accounting period, carried over from the end of the previous period.

Accounts Receivable

Accounts receivable are funds owed to a company by customers who have received goods or services but have not yet paid for them.

Accounts Payable

The amounts a company owes to creditors for items or services purchased on credit which are due within a year or within a company's operating cycle.