Trade restrictions tend to preserve relatively few jobs in the protected industries and lead to job losses in other industries. Trade restrictions can vary from quotas, embargoes, standards, subsidies, tariffs and more that make it hard to trade (important/export) goods between two companies and also set prices for these. Depending on what is allowed and what is not different industries can benefit from the trade restrictions and some can be harmed by them.
Answer:
True
Explanation:
The journal entries are the recording of the transactions in which the one account is debited and another account is credited along with the description and the date.
If we take the example.
Rent is paid for cash for $10,000
So, the journal entry would be
Rent expense A/c Dr $10,000
To Cash A/c $10,000
(Being rent is paid for cash is recorded)
So, the given statement is true
