Trading Industries Are Distinguished by

question 37

Multiple Choice

Trading industries are distinguished by

• A)the widespread practice of importing and exporting.
• B)the widespread practice of moving capital investments from one country to another.
• C)the tendency for employees to move from one country to another.
• D)all of the above.

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Definitions:

Year-End Balance

The financial position of an account at the end of the fiscal year after all debits and credits are taken into account.

Paid-In Capital

Funds received from investors in exchange for stock, representing the capital provided by shareholders through the purchase of shares.

Par Value

The stated or principal value of a bond, stock share, or coupon as specified on its certificate or document.

Journal Entries

Journal entries are the record of financial transactions in the accounting books, detailing debts and credits for each account affected by the transaction.