ross domestic product is the monetary value of ______.
all exports of goods and services to other countries during one year
all products and services produced in a country during one year
all of a country's real estate, both improved and unimproved
the difference between a nation's exports and imports
all products and services produced in a country during one year
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True or False: A good choice for the number of class groups to use in constructing frequency distribution is to have at least 5 but no more than 15 class groups
Indicate whether the statement is true or false
A purchase on credit is recorded twice and not corrected during the year-end physical inventory. Which of the following statements correctly describes the impact of this error?
A) The current year income on the income statement is correct because purchases are overstated and ending inventory is overstated. B) The current year balance sheet ending inventory and accounts payable are understated. C) The succeeding year income on the income statement is incorrect because beginning inventory is understated. D) The succeeding year purchases are understated when the prior year purchases are corrected.