A Group of Countries That Agrees Just to Eliminate All

question 35

Multiple Choice

A group of countries that agrees just to eliminate all tariffs between them,is called a

• A) customs union.
• B) free trade area.
• C) common market.
• D) monetary union.

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Definitions:

Financial Information

Data related to the financial status or performance of an individual or entity, including balance sheets, income statements, and cash flow statements.

Borne

Borne usually refers to costs or expenses being carried or supported. In business, it means that a party takes on the responsibility for certain expenses.

IASB

The International Accounting Standards Board, an independent body responsible for the development and publication of International Financial Reporting Standards (IFRS).

FASB

The Financial Accounting Standards Board, an organization responsible for setting accounting and financial reporting standards in the U.S.