Which of the Following Two Categories Account for a Combined

question 103

Multiple Choice

Which of the following two categories account for a combined 47 percent of all U.S.exports each year?

• A)travel and foods,feeds,and beverages
• B)transportation and automotive vehicles,engines,and parts
• C)commercial,professional,and technical services
• D)automotive vehicles,engines,and parts plus consumer goods
• E)capital goods and industrial supplies

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Definitions:

Correcting Entry

A journal entry made in accounting records to amend a previously recorded error.

Salaries and Wages Expense

The total cost incurred by a business to compensate its employees for their labor during a period.

Salaries and Wages Payable

Represents liabilities for amounts owed to employees for work performed but not yet paid.

Property Plant and Equipment

Long-term tangible assets owned by a company and used in its operations to generate income, including buildings, machinery, and equipment.