Explain How a Drop in the Value of the Dollar

question 15

Essay

Explain how a drop in the value of the dollar could affect the U.S. import and export sectors.

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Definitions:

Supplies

Items used in the operation of a business or in the production of goods and services that are typically consumed within a short period.

Purchased

Acquisition of goods or services in exchange for money or its equivalent.

Required

Mandatory or necessary conditions or items specified for a particular purpose or activity.

Adjusting Entry

A journal entry made in accounting records at the end of an accounting period to allocate income and expenses to the period in which they actually occurred.