In 2011, Exports Represented About __________ Percent of the U

question 33

Multiple Choice

In 2011, exports represented about __________ percent of the U.S. GDP.

• A) 5 percent
• B) 8 percent
• C) 9 percent
• D) 10 percent
• E) 14 percent

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Definitions:

Separate Accounting Records

The practice of maintaining distinct records for different parts of a business's operations or for individual entities, ensuring clarity and precision in financial tracking.

Departments

Specific units or divisions within a business that have their own functions and responsibilities.

Departmental Income Statement

A financial statement that shows the revenue, expenses, and net income for each department within a company, helping to track the performance of distinct areas of the business.

Cost of Goods Sold

The costs incurred directly from the production of goods a company offers for sale, which include material and labor expenses.