Developed Countries Have Lost Comparative Advantage in

question 23

Multiple Choice

Developed countries have lost comparative advantage in

• A) high-tech industries.
• B) labor-intensive industries.
• C) capital-intensive industries.
• D) agricultural industries.

---

Definitions:

Allowance Account

An account used to record adjustments for potential future losses or defaults on receivables, essentially reducing the value of accounts receivable to a more realistic figure.

Accounts Receivable

Debts incurred by customers to a company for using or obtaining its goods or services without making immediate payment.

Allowance Method

An accounting technique that adjusts accounts receivable for the estimated uncollectible amounts.

Accounts Receivable

Unsettled charges owed by clients to a company for the consumption or acquisition of goods or services.