Advances in Genetic Engineering and Biotechnology Are Expected to Produce

question 86

Multiple Choice

Advances in genetic engineering and biotechnology are expected to produce some food products that will be available year-round even in northern climates. This provides grocers an opportunity to reduce shipping costs while at the same time offering fresher produce to customers. These advances are an example of changes in the

• A) Technological environment.
• B) Economic environment.
• C) Political environment.
• D) Demographic environment.
• E) Ecological environment.

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Definitions:

T Accounts

A graphical representation of a general ledger account that is used for teaching, analysis, and management of accounts.

Statement of Owner's Equity

A financial statement detailing changes in the owner's equity of a company over a specific period, including contributions, withdrawals, and the net income or loss.

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account column totals that are equal.

Adjustments

At the close of an accounting period, records are adjusted to attribute revenues and expenses to the timeframe in which they truly happened.