World Trade Grew at an Average Annual Rate of Approximately

question 16

Multiple Choice

World trade grew at an average annual rate of approximately ___________ percent between 1997 and 2007.

• A)10
• B)8
• C)6
• D)4

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Definitions:

Owner's Equity

The residual interest in the assets of a business after deducting liabilities, representing the owner's claim on the company's resources.

Revenues

The total income generated by a company from its business activities, typically from the sale of goods or services before any expenses are subtracted.

Expenses

Outflows of resources or incurrences of liabilities that a company undergoes as part of its operations to generate revenue.

Drawings

It refers to the amount of money or the value of goods taken from the business by the owner for personal use.