The Condition That Results When the Value of a Country's

question 78

Multiple Choice

The condition that results when the value of a country's imports is greater than the value of its exports is called ________.

• A)a trade deficit
• B)economies of scale
• C)a break-even point
• D)absolute advantage

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Definitions:

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts.

Ledger Accounts

Individual records providing detailed information about all the transactions related to a specific account, kept in the ledger of a company.