Tariffs Serve All of the Following Purposes Except

question 32

Multiple Choice

Tariffs serve all of the following purposes except:

• A) collection of revenue.
• B) enhancement of flow of commerce.
• C) regulation of import competition.
• D) protection of the national defense.

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Definitions:

Business Transactions

Economic events or conditions that affect the financial position of a company, which are recorded as entries in accounting records.

Time Period

A specific duration during which financial transactions are recorded and reported in financial statements.

Quality

The degree to which a product or service meets the requirements and expectations of customers.

Consistency

Use of the same accounting principles and methods from year to year within a company.