The core business of Greenmango Ltd involves the sale of anti-virus software. The following took place during the financial year ended 30 June. The company earned $25 000 000 from the sale of software; $3 000 000 from update downloads; and $50 000 in interest from investing on the short-term money market. The company also received a $2000 discount arising out of the early settlement of a liability; and issued shares in exchange for $500 000 cash during the year.
Definitions:
Tariff
A tax imposed on imported goods and services to restrict trade, often with the aim of protecting domestic industries.
Domestic Watches
Timekeeping devices produced within a country's borders, often referring to the industry or market for watches in that country.
Imported Watches
Timepieces that are brought into a country from abroad for sale.
Free-Trade Policies
Strategies and agreements between countries to allow goods and services to be traded with fewer restrictions or tariffs.
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