Which Statement About Cash Crops Is FALSE

question 62

Multiple Choice

Which statement about cash crops is FALSE?

• A)Cash crops can provide revenue to purchase nutritious foods for local people.
• B)Production of cash crops may limit the ability of local people to produce enough food to feed their families.
• C)Cash crops are typically raised for local consumption.
• D)Coffee is a cash crop.

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Definitions:

Financial Statement

A written report that quantitatively describes the financial health of a company, including balance sheet, income statement, and cash flow statement.

Permanent/Temporary

Designations for accounts or job positions that indicate if they are expected to last indefinitely or have a fixed duration, respectively.

Gross Method

An accounting method for recording purchases at the invoice amount without deducting any discounts offered.

Periodic Method

An inventory accounting system where updates to inventory accounts and cost of goods sold are made periodically at the end of a reporting period.