Which Statement Is False

question 137

Multiple Choice

Which statement is false?

• A)International trade helps every country.
• B)The economics profession is nearly unanimous in advocating free trade.
• C)The jobs that are lost due to foreign imports can be gained by our export sector.
• D)Recent Presidents of the United States support free trade in word and deed.

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Definitions:

Subsidiary Ledger

A detailed ledger that provides a breakdown of individual transactions affecting a specific general ledger account, facilitating in-depth analysis and reconciliation.

General Ledger

A comprehensive record of all financial transactions over the life of a company.

Individual Balances

The amounts recorded in separate accounts representing various assets, liabilities, or equity of an individual or entity.

Special Journal

A specialized accounting journal designed to record a particular type of transaction consistently, such as sales or cash disbursements.