Answer the Question(s)below Based on the Information in the Following

question 17

Multiple Choice

Answer the question(s) below based on the information in the following table,where the numbers represent the number of labor hours it will take to produce a unit of the given good.
$$\begin{array} { | c | c | c | } \hline & \text { Spain } & \text { France } \\\hline \text { Grapes } & 3 & 9 \\\hline \text { Textiles } & 1 & 2 \\\hline\end{array}$$
-Refer to the table above.Spain has comparative advantage in

• A)grapes.
• B)textiles.
• C)both grapes and textiles.
• D)neither grapes nor textiles.

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Definitions:

General Journal

A primary accounting record where financial transactions are chronologically recorded before being posted to specific accounts in the general ledger.

Purchases Transactions

Activities related to buying goods and services for use or resale by a business.

Sales Transactions

The process of exchanging goods or services for money or other assets, recorded by businesses as revenue.

Asset Turnover Ratio

A financial metric indicating how efficiently a company utilizes its assets to generate sales revenue.