Which Statement Is False

question 246

Multiple Choice

Which statement is false?

• A)Our 2009 trade deficit with Japan was the highest deficit ever recorded with any one country.
• B)Our trading position with Japan is very much like a colony and a colonial power.
• C)Japan had an economic revival in the 1950s and 1960s largely by targeting the American consumer market.
• D)If we eliminated our trade deficits with Japan and China,we would still be running a trade deficit.

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Definitions:

Equity Method

An accounting technique used by firms to assess the profits earned through their investments in other companies by reporting these profits as income.

Consolidating Entries

Journal entries made in the process of combining the financial statements of multiple subsidiaries with those of a parent company.

Original Cost

The acquisition cost of an asset before adjusting for depreciation, amortization, or impairment costs.