A Tariff Is a

question 49

Multiple Choice

A tariff is a

• A)limit on the volume of foreign goods that can be brought into the country.
• B)tax on goods purchased from other countries.
• C)tax on goods exported to other countries.
• D)subsidy by governments to firms that produce goods for export to other countries.

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Definitions:

Revenues

The complete revenue accrued from the core business activities through selling goods or services.

Secondary Operations

Processes that are performed after the primary manufacturing or production process to add value to a product, such as finishing, painting, or assembly.

Periodic Inventory System

An inventory accounting system where stock levels and cost of goods sold are determined at the end of an accounting period through a physical count.

Inventory Record

Documentation that tracks the quantity, location, and status of products throughout the supply chain from acquisition to sale.