Which of the Following Statements Is True of Tariffs

question 54

Multiple Choice

Which of the following statements is true of tariffs?

• A) They strengthen balance-of-payments positions.
• B) They strengthen supply-and-demand patterns.
• C) They increase special interests' privileges.
• D) They strengthen international relations.
• E) They promote competition.

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Definitions:

Standard Costing System

An accounting system that uses standard costs instead of actual costs for recording costs of inventory and cost of goods sold, tracking variances.

Balanced Scorecard

A performance management tool that uses a range of financial and non-financial measures to assess an organization's performance.

Perspectives

Different ways of viewing or approaching a situation, often leading to varied interpretations or analyses.