Match the Terms Below with the Correct Definitions

question 91

Multiple Choice

Match the terms below with the correct definitions.
-Book of original entry

• A)Chart of accounts
• B)Journalizing
• C)General ledger account
• D)General ledger
• E)Journal
• F)Source documents
• G)Posting
• H)Account number
• I)General journal
• J)Cost principle

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Definitions:

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost than competitors, leading to more efficient international trade.

Capital Goods

Long-term assets acquired by businesses to create goods and services; these include machinery, tools, and buildings.

Developing Countries

Nations with a lower living standard, undeveloped industrial base, and low Human Development Index (HDI) relative to other countries.

Skilled Workers

Individuals who have specialized training or expertise in a particular job or industry, often requiring formal education or apprenticeship.