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The "Escape Clause" of the GATT Agreement Derives Its Name

question 60

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The "escape clause" of the GATT agreement derives its name from the fact that:


Definitions:

Equity Method of Accounting

An accounting technique used to record investments in other companies, where the investment is initially recorded at cost and adjusted thereafter for the investor’s share of the investee’s income, losses, and dividends received.

Capital Account Balances

The amounts recorded in the capital account of a company or individual, reflecting initial investment plus retained earnings minus any withdrawals.

Liquidating

The process of converting assets into cash or cash equivalents by selling them.

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