Which of the Following Is an Advantage of Exporting

question 15

Multiple Choice

Which of the following is an advantage of exporting?

• A)It helps in easy currency conversion.
• B)It provides large revenue and profit opportunities.
• C)It reduces the administrative costs incurred by a company.
• D)It helps companies increase their unit costs.
• E)It reduces paperwork and complex formalities.

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Definitions:

Perpetual Inventory Method

An inventory system that updates inventory accounts after each purchase or sale on a continuous basis.

General Journal Entries

The recordation of financial transactions in the general journal in chronological order, which are then posted to individual accounts in the general ledger.

Accounts Payable

A financial record that reflects a firm's responsibility to clear a short-term obligation to its creditors or suppliers.

Subsidiary Ledger

A detailed ledger that contains all the transaction details of a specific account, which then summarizes into a general ledger.