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3 years ago

Describe about comparative cost and absolute advantages of international trade

Business

1 answer:

zzz [600]3 years ago

4 0

Answer:

Here's what I know.

Explanation:

Comparative cost talks about the difference or similarities in cost between two or more prices of good or services.

The advantages of international trade are...

1. It creates harmony between countries.

2. It encourages countries to manufacture their own products.

3. It is a source or income/revenue to the producing countries.

4. It is a good employment opportunity.

5. It improves a country's standard of living.

Hope these help... ♥

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3 years ago

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3 years ago

Graham, Inc.'s April bank statement shows an April 30 balance of $5,120. Prior to reconciliation, its books show a cash balance

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Answer:

$5,570

Explanation:

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Graham, Inc.

Bank reconciliation statement as at April 30

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Add back error at the bank $115

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3 years ago

In its first year of operations, Gomes Company recognized $28,000 in service revenue, $6,000 of which was on account and still o

Mademuasel [1]

Answer:

a. The first year's net earnings under the cash basis of accounting is $7,600 and the first year's net earnings under the basis of accounting is $12,200

b. Accrual basis of accounting provides more useful information.

Explanation:

a. In order to calculate the first year's net earnings under the cash basis of accounting we would have to use the following formula:

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Cash basis net earnings =$22,000 – $12,000 – $2,400

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3 years ago

Describe about comparative cost and absolute advantages of international trade​

Describe about comparative cost and absolute advantages of international trade