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frez [133]
4 years ago
14

Which of the following is true of exchange? a. The exchange value of a good is determined by the cost of the resources required

to produce the good. b. The total output trading partners are able to produce is not influenced by whether the partners trade with each other. c. Exchange permits trading partners to expand their total output of goods and services as the result of greater specialization in areas where each has a comparative advantage. d. Exchange is a zero sum activity; if one party to an exchange gains, the other must lose an equal amount.
Business
1 answer:
CaHeK987 [17]4 years ago
6 0

Answer:

C) Exchange permits trading partners to expand their total output of goods and services as the result of greater specialization in areas where each has a comparative advantage.

Explanation:

When an economy specializes in the production of a good, it will generally do so on the products that it can produce at a lower opportunity cost. Advantages in trade result from comparative advantages, not absolute advantages. This way the economy can exchange "cheap" products (cheap for them to produce) for more expensive ones, thus resulting in gain.

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ivann1987 [24]

Answer:

Failure to timely pay personal income taxes.

Explanation:

Rules of Conduct

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There are 6 Principles of the AICPA Code of Professional Conduct. They cover:

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2. The Public Interest

3. Integrity

4. Objectivity

5. Due Care

6. Scope and Nature of Services

The disreputable conduct for which a CPA can be disbarred or suspended includes the following;

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6 0
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The amount of cash to be reported on the balance sheet at June 30 is the
drek231 [11]

Answer:

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So to eliminate this differentiation, bank reconciliation needs to be done. After this reconciliation has been carefully done, the adjusted cash balance in the reconciliation will be used.

7 0
4 years ago
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