Which of the Following Is True About Dumping

question 132

Short Answer

Which of the following is true about dumping?
It means selling a product abroad for less than the comparable price at home.
It benefits industries in countries where products are dumped.
It is legal in Canada.
The Canada Revenue Agency determined that cars produced by Toyota and Honda in Japan were being "dumped" in Canada.
None of these are true.

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Definitions:

Cost of Goods Available for Sale

The total cost of merchandise that a company can sell during a certain period, including both its beginning inventory and the cost of any goods purchased during the period.

Expense Recognition

The accounting principle that expenses should be recorded in the period in which they are incurred, regardless of when the cash is paid.

Assets

Resources owned by a business.

Liabilities

Financial obligations or debts a company owes to others, which must be settled over time by transfer of economic benefits.