Import Duties on Purchases of Inventory Items -

question 2

Multiple Choice

Import duties on purchases of inventory items -

• A)are automatically recorded as liabilities to the Receiver General for Canada once the duties are properly set up
• B)require separate purchase and payment entries
• C)are always charged on foreign inventory purchases
• D)may be entered automatically from the rates in the inventory ledger

---

Definitions:

Financial Data

Numeric information related to the financial performance, position, and cash flows of a business.

Alternative Courses of Action

Different strategies or options considered by decision-makers to achieve a goal or solve a problem.

Incremental Analysis

An examination of the relevant costs and potential revenues associated with making business decisions, focusing on changes that would result from choosing one option over another.

Market Analysts

Professionals who study market conditions to forecast potential sales and help businesses understand what products people want.