How Are WTO Decisions Enforced

question 92

Multiple Choice

How are WTO decisions enforced?

• A) All WTO decisions are enforceable under law.
• B) Member nations pay a duty to join WTO and this creates natural compliance.
• C) The World Court reviews and enforces all WTO decisions.
• D) International pressure to comply with WTO decisions is expected to force compliance.
• E) Decisions must pass through both houses of Congress to be enforced.

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Definitions:

Discounted Notes

Notes or bonds sold for less than their face value in order to reflect current market interest rates or the issuer's credit risk.

Contra-Asset Account

An account on a company's balance sheet that offsets or reduces the value of an associated asset account.

Reconciling Items

Entries that are made to adjust the books of accounts in order to ensure that two sets of records (usually the bank statement and the company's records) are in agreement.

Adjusting Journal Entry

An entry made in the accounting records at the end of an accounting period to allocate income and expenditure to the appropriate period.