Other Things Equal,if a Particular Province Has Some Non-Monetary Advantages,such

question 13

Multiple Choice

Other things equal,if a particular province has some non-monetary advantages,such as a temperate climate,the wage rate in that province will be

• A)higher than national average and the market will be in equilibrium.
• B)higher than national average and the market will be in disequilibrium.
• C)lower than national average and the market will be in equilibrium.
• D)lower than national average and the market will be in disequilibrium.
• E)the same as any other province.

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Definitions:

Direct Write-Off Method

A bookkeeping approach where bad debts are immediately expensed against earnings when they are considered irrecoverable.

Uncollectible Receivables

Receivables from sales or loans that the company is unable to collect and therefore considers as a loss.

Liquidation

The winding-up process when a partnership goes out of business.

Dishonored Note

A promissory note that has not been paid at maturity or is in default.