As Long as an Increase and Decrease of the Same

question 217

True/False

As long as an increase and decrease of the same amount are recorded on one side of the accounting equation,the accounting equation remains in balance.

---

Definitions:

Protectionism

Economic policy of restraining trade between states through methods such as tariffs on imported goods, restrictive quotas, and a variety of other government regulations designed to allow (according to proponents) fair competition between imports and goods and service produced domestically.

World Trade

The exchange of goods and services across international borders or territories.

Tariffs

Taxes or duties to be paid on a particular class of imports or exports.

Quotas

Limits set on the quantity or value of goods that can be imported or exported over a specified period.