Inadequacy Refers to

question 81

Multiple Choice

Inadequacy refers to

• A)The condition where the capacity of a property,plant and equipment asset is too small to meet the company's productive demands
• B)An asset that is worn out
• C)An asset that is no longer useful
• D)The same as obsolescence
• E)All of these

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Definitions:

Voluntary Export Restraint

An agreement between exporting and importing countries where the exporter agrees to limit the quantity of goods exported to the importing country.

Quota

A quota is a government-imposed trade restriction that limits the number or monetary value of goods that can be imported or exported during a particular time frame.

Tariff

A tax imposed by a government on goods and services imported from other countries, intended to increase their price and make domestic products more competitive.

Most-Favored-Nation Status

A trade status granting a nation the best trading terms available to any other nation, such as lowest tariffs or highest import quotas.