Of the Following All Are Forms of Trade Restrictions Except

question 11

Multiple Choice

Of the following all are forms of trade restrictions except

• A)A tariff
• B)A quota
• C)A regulation requiring certain standards for an imported good
• D)A control on currency exchange

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Definitions:

Equivalent Units

A concept in cost accounting used to allocate costs to partially completed goods, expressed in terms of full units of output.

Direct Materials

Materials that can be directly linked to the production process of a product and are essential components of the final product.

Weighted-Average Method

An inventory costing method that assigns the average cost of goods available for sale to both ending inventory and cost of goods sold, weighing the average by the quantities purchased at different prices.

Conversion Cost

The combination of direct labor and manufacturing overhead costs required to convert raw materials into finished products.