In 1995 ________, Which Was Established in 1948, Was Replaced

question 152

Multiple Choice

In 1995 ________, which was established in 1948, was replaced by ________.

• A)the GATT; the WTO
• B)the WTO; NAFTA
• C)the Smoot-Hawley Tariff; the GATT
• D)NAFTA; the Smoot-Hawley Tariff

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Definitions:

Financial Reporting

The process of producing statements that disclose an organization's financial status to management, investors, and government bodies.

Revenue Agency

This is a government body responsible for the administration of tax laws and the collection of taxes and other revenue.

Current Assets

Items of value that are forecasted to be liquidated, traded, or depleted within the span of one year or throughout the duration of the operational cycle, whichever timeframe is greater.

Current Liabilities

Obligations that a company expects to pay within one year or within its normal operating cycle, whichever is longer, including accounts payable, short-term loans, and other accrued liabilities.