A Number of Explanations Have Been Offered for the Low

question 89

Multiple Choice

A number of explanations have been offered for the low level of U.S.exports relative to other countries.All of the following can be considered as reasons for low level of exports except:

• A)limited ambition by many American business owners.
• B)lack of knowledge of market opportunities abroad.
• C)perceived lack of necessary resources.
• D)marketing to home-country users is easier than exporting.
• E)a strong U.S.dollar translates into less affordable prices in export markets.

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Definitions:

Adjusting Entries

Accounting records created at the close of a fiscal period to distribute revenues and expenses to the timeframe they genuinely transpired.

Reversed

In accounting, referring to the action of negating a previous transaction or entry to correct or adjust financial records.

Accrual Basis

An accounting method where income and expenses are recorded when they are earned or incurred, regardless of when the cash transactions occur.

Insurance Expense

The cost incurred by a business for its insurance policies, which is recorded as an expense on the income statement.