Which of the Following Accounts Is Least Likely to Be

question 21

Multiple Choice

Which of the following accounts is least likely to be used by a tax agency fund?

• A) Cash.
• B) Revenues.
• C) Taxes receivable for other funds.
• D) Due to other governments.

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Definitions:

Absolute Advantage

A condition in which a country, individual, or company can produce a specific good at a lower cost in terms of labor and resources than competitors.

Lowest-Cost Producer

A company that has a competitive advantage by producing goods or services at the lowest possible cost compared to competitors.

International Trade

International trade involves the exchange of goods and services across national borders, driven by the principles of supply and demand.

Balance of Payments Deficit

A situation where the total of the country's imports and its external payments exceeds the total of its exports and external receipts.