Use the Following to Answer Questions

question 106

Multiple Choice

Use the following to answer questions:
Figure: Bananas
-(Figure: Bananas) Refer to the figure. If there is a $3 tariff on bananas, approximately what percent of banana consumption comes from imports?

• A) 8%
• B) 10%
• C) 90%
• D) 93%

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Definitions:

Deferral

A deferral occurs when cash related to a future revenue or expense has been initially recorded as a liability or an asset.

Unearned Revenue

Money received by a business for goods or services that have yet to be delivered or performed.

Theater Tickets

Documents that grant the holder the right to enter a theater and see a performance.

Performance

The act of executing or accomplishing work, tasks, or duties, often measured against predefined standards.