Utampa bus 101 - Study guides, Class notes & Summaries

mports goods produced abroad and sold domestically Exports Goods and Services sold to other countries Trade Surplus exports > imports Trade deficit exports< imports comparative advantage specializing in the production of goods or services with the lowest opportunity cost Opportunity cost the value of the next best alternative Advantages of trade Increases competition lowers prices encourages innovation Provides access to new markets Divers...

Accounting - -gather -organize -analyze -report Accounting cycle - -bookkeeping -journal -ledger -trial balance Accounting's Stakeholders - -management -marketing -investors -creditors -government Acquisition - when one company takes over another Advantages of a corporation - -limited liability -ability to raise funds -transfer of ownership -longevity -attracting human capital Advantages of Franchises - -established brand name -support from franchisor-access to capital -nat...