Which of the Following Is True of Quotas

question 86

Multiple Choice

Which of the following is true of quotas?

• A) They are the most common type of trade barrier.
• B) They help domestic producers maintain their market shares and prices.
• C) Their licenses are granted by governments to other nation companies on a five-year basis.
• D) They lead to a decrease in the prices of intermediate goods.

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Definitions:

Revenue Recognition

The accounting principle that dictates the specific conditions under which revenue is recognized and recorded, typically when the earning process is judged to be complete and the revenue is measurable.

Period Of Sale

The time frame during which a sale transaction is completed, from the offer to the transfer of ownership.

Revenue Recognition

The accounting principle that revenue should be recorded when earned, regardless of when payment is received, ensuring accurate financial reporting.

Period Of Sale

The time period between when a product is listed for sale and when it is actually sold.