When a Country's Exports of Goods Are Greater Than Its

question 88

Multiple Choice

When a country's exports of goods are greater than its imports of goods in a given period, it has a

• A) trade deficit.
• B) capital account surplus.
• C) trade surplus.
• D) current account deficit.

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Definitions:

Physical Inventory

A process where a business physically counts its entire inventory to ensure the accuracy of its records and control its stock levels.

End of the Period

Refers to the conclusion of a reporting timeframe in accounting, such as the end of a fiscal quarter or year, when various calculations and adjustments are made.

Depreciation Expense

The allocation of the cost of a tangible asset over its useful life, reflecting the asset's consumption, wear and tear, or obsolescence.