Which of the Following Statements Is False

question 171

Multiple Choice

Which of the following statements is false?

• A)Exports benefit trading countries because exports create jobs.Imports do not benefit trading countries because they result in a loss of jobs.
• B)Each year the United States exports about 50 percent of its wheat crop and 20 percent of its corn crop.
• C)Most of the leading exporting countries are large,high-income countries.
• D)Not all sectors of the U.S.economy are affected equally by international trade.

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Definitions:

Ledger

A comprehensive collection of a company's accounts where transactions are recorded, typically categorized into assets, liabilities, equity, revenues, and expenses.

Compound Journal Entry

A journal entry that includes multiple debits, credits, or both, affecting more than two accounts.

Accounts

Records of financial transactions pertaining to specific assets, liabilities, equity, revenues, and expenses within an organization.

Compound Entry

A type of journal entry in accounting that involves more than two accounts, with multiple debits, credits, or both.