An Excise Tax on an Imported Good That Is Not

question 88

Multiple Choice

An excise tax on an imported good that is not produced domestically is called a

• A) protective tariff.
• B) import quota.
• C) revenue tariff.
• D) voluntary export restriction.

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Definitions:

Owner's Equity Statement Accounts

Reports detailing changes in the owner's equity account for a period, showing contributions, withdrawals, and the period's profit or loss.

Balance Sheet Accounts

Balance Sheet Accounts are the accounts that reflect the assets, liabilities, and equity of a company as recorded on the balance sheet, giving a snapshot of financial health at a specific point in time.

Current Assets

Liquid assets that a company owns and expects to use or convert into cash within a year or its operational cycle.

Cash

A company's currency or assets that can be immediately used for transactions or payments.