Notes Receivable Is the Amount Owed to a Seller by Customers

question 8

True/False

Notes receivable is the amount owed to a seller by customers who have purchased goods and services on credit.

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Definitions:

Exporting Industries

Industries that produce goods and services that are sold abroad.

Import-Competing Industries

Industries that produce goods and services that are also imported.

Deadweight Loss

The loss in total surplus that occurs whenever an action or a policy reduces the quantity transacted below the efficient market equilibrium quantity.

Tariff

A tax imposed by a government on goods and services imported from other countries, affecting trade.