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Problems and costs arising from international accounting diversity
Absolute Advantage
The ability of a party to produce more of a good or service than competitors, using the same amount of resources.
Free Trade
The absence of tariffs, quotas, or other governmental restrictions on international trade, allowing goods and services to move freely across borders.
Opportunity Cost
Signifies the advantages that a person, investor, or company forgoes by selecting one option instead of another.
Tables
Arrangements of data in rows and columns that systematically display information.
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