Which of the Following Is an Example of a Service

question 50

Multiple Choice

Which of the following is an example of a service export?

• A) Universal Pictures licenses the right to show the movie Jurassic Park to a Chinese theater chain.
• B) Joan Brown migrates from the United States to Canada.
• C) Tom Jones purchases 100 shares of Eaton Corporation, an Irish company.
• D) Monique le Flambeau, a French citizen, purchases a Ford F150 while visiting the United States.

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Definitions:

Account Nature

The characteristic of an account that classifies it as an asset, liability, equity, revenue, or expense.

Periodic Inventory Method

An accounting method where inventory and cost of goods sold are calculated at set intervals, such as yearly or quarterly.

Promissory Note

A formal written promise by a borrower to pay a certain sum at a fixed future date.

Notes Payable

Short-term or long-term liabilities recorded when a company borrows money, often in the form of a formal written agreement to pay a specified amount with interest.