Which of the Following Was Agreed Upon and Launched at the End

question 25

Multiple Choice

Which of the following was agreed upon and launched at the end of the Uruguay Round in 1994?

• A) The General Agreement on Tariffs and Trade (GATT)
• B) The World Trade Organization (WTO)
• C) The European Union (EU)
• D) The Multifiber Arrangement (MFA)

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Definitions:

Accounts Receivable

Money owed to a company by its clients or customers for goods or services that have been delivered but not yet paid for.

Accounts Payable

Money owed by a company to its creditors for goods and services that have been delivered but not yet paid for.

Accounting Equation

A fundamental principle in accounting that states assets equal liabilities plus owner's equity.

Equipment

Physical assets used in the operation of a business, such as machinery, computers, and furniture.