The GASB Requires Disclosures Related to Three Types of Credit

question 39

True/False

The GASB requires disclosures related to three types of credit risk.

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Definitions:

Nontariff Trade Barrier

Restrictive regulations and policies other than tariffs that countries use to control the amount of trade across their borders, including quotas, embargoes, or standards.

Domestic Subsidies

Financial aid provided by a government to support a domestic industry or sector, reducing the cost of production or services for national companies.

Import Licensing

A government policy requiring businesses to obtain official permission before importing certain goods, often used to control the amount of goods entering a country.

European Works Council

A body representing European employees, established to provide information and consultation rights on transnational matters affecting workers in the European Union.