Consider the Following Items: Land

question 59

Multiple Choice

Consider the following items: Land
Accounts Receivable
Notes Payable (due in three years)
Accounts Payable
Retained Earnings
Prepaid Rent
Unearned Revenue
Buildings
Notes Payable (due in six months)
Equipment
How many of the items listed above are generally long-term assets?

• A)Two.
• B)Three.
• C)Four.
• D)Five.

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Definitions:

Net Exports

The value of a country's total exports minus the value of its total imports.

Infant Industries

Industries in the early stages of development that may be protected from international competition to allow them to grow.

Free Trade

Free trade is a policy to eliminate restrictions on international trade, allowing goods and services to move freely across borders without tariffs, quotas, or other barriers.

Dumping

Selling a good in a foreign country at a lower price than it’s sold for in the domestic market.