Which of the Following Statements Is False

question 254

Multiple Choice

Which of the following statements is false?

• A)Japan is less dependent on foreign trade than is the United States.
• B)Imports and exports account for over one-half of the GDP of the Netherlands.
• C)China is the leading exporting country,accounting for 10.3 percent of total world exports.
• D)Because the cost of labor used on farms is so high,the United States exports very little of its wheat,rice,and corn crops.

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Definitions:

Perpetual Inventory

An inventory system that records changes in inventory levels immediately as they occur, facilitating real-time tracking of stock.

Financial Statements

Reports that summarize the financial condition and operations of a business, including balance sheet, income statement, and cash flow statement.

Net Realizable Value

The estimated selling price of goods, minus the costs of their completion and the costs required to make the sale, used in inventory valuation and accounts receivable.

Merchandise Value

The total worth of goods held for resale by a retail or wholesale business, typically assessed at cost or market price.