Choose the Statement That Is Incorrect

question 11

Multiple Choice

Choose the statement that is incorrect.

• A)Free trade destroys some jobs.
• B)Imports create jobs for retailers that sell imported goods and for firms that service those goods.
• C)Imports create income in the rest of the world,some of which is spent on Canadian-made goods and services.
• D)Free trade brings about a global rationalization of labour.
• E)Protection saves jobs at a low cost.

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Definitions:

Process Costing

An accounting methodology used for industries where production is continuous, attributing costs to units of product based on the processes they go through.

Job Order Costing

An accounting methodology used to assign manufacturing costs to an individual product or batches of products, often used in situations where each product is distinct.

Labor Price Variance

The difference between the actual cost of labor and the standard or expected cost, used as a measure of financial performance.

Misallocation

The improper or inefficient allocation of resources, often leading to suboptimal outcomes or performance.