Tariffs ________ the Domestic Price of the Good and Import

question 168

Multiple Choice

Tariffs ________ the domestic price of the good and import quotas ________ the domestic price of the good.

• A) lower; lower
• B) lower; raise
• C) raise; lower
• D) raise; raise

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Definitions:

Segregation Of Duties

An internal control measure that divides responsibilities among different people to prevent fraud and errors.

Treasurer

An officer of an organization responsible for managing the institution’s budget, overseeing its investment strategy, and handling its financial planning, reporting, and record-keeping.

Outstanding Cheques

Checks that have been written and recorded in the issuing account but have not yet been cashed or deposited by the recipient.

Balance Per Bank

Balance per bank refers to the amount of money a business has in its bank account, as recorded by the bank, before reconciling any discrepancies with the company's records.