A Maximum Limit Set on the Amount of a Specific

question 129

Multiple Choice

A maximum limit set on the amount of a specific good that may be imported into a country over a given period of time is called a

• A) tariff.
• B) quota.
• C) nontariff barrier.
• D) voluntary export restriction.

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Definitions:

Operating Activities

Business activities related to the day-to-day functions of a company, involving revenues and expenses.

Indirect Method

An approach used in cash flow statement preparation that adjusts net income for changes in balance sheet accounts to derive operating cash flows.

Operating Activities

Activities that relate to the primary operations of a company, such as sales, supply, production, and administrative services.

Salaries

Regular payments made to employees for their services, typically expressed as an annual sum but paid in regular installments.