Which of the Following Is Not True About a Tariff

question 170

Multiple Choice

Which of the following is not true about a tariff?

• A) It is a barrier to entry in a market.
• B) It leads to a natural monopoly.
• C) It is a tax.
• D) It affects imported goods.

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Definitions:

General Journal Entries

Entries made in the general journal to record financial transactions in the accounting system.

Invoice Price

The price listed on an invoice, representing the amount charged by the seller to the buyer for goods or services provided.

Sales Tax

A tax imposed by a government on the sale of goods and services, typically calculated as a percentage of the purchase price.

General Journal Entries

Recorded business transactions in the general journal, forming the foundation of a company's financial records.