Which of the Following Statements Is Incorrect

question 2

Multiple Choice

Which of the following statements is incorrect?

• A)An ad valorem tariff is expressed as a percentage of the value of the traded commodity
• B)a specific tariff is expressed as a fixed sum of the value of the traded commodity.
• C)export tariffs are prohibited by the U.S.Constitution
• D)The U.S.uses exclusively the specific tariff

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Definitions:

Spending Variance

The difference between the budgeted amount of spending and the actual amount spent.

Actual Cost

The real, total expenses incurred for a project or production, including all direct and indirect costs.

Plane Operating Costs

The expenses associated with the operation of an aircraft, including fuel, maintenance, crew salaries, and depreciation.

Measures of Activity

Quantitative techniques or metrics used to assess the level of activity or operations within a business or process.