A Government Restriction That Places a Direct Limit on the Amount

question 30

Multiple Choice

A government restriction that places a direct limit on the amount of particular goods that can be imported into a country is called a/an:

• A) entry limit.
• B) embargo.
• C) quota.
• D) tariff.

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Definitions:

Qualitative Description

An explanation or characterization of something that focuses on its qualities and characteristics, rather than quantifiable measures.

Contingent Consideration

Usually, an obligation of the acquirer to transfer additional assets or equity interests to the former owners of an acquiree as part of the exchange for control of the acquiree if specified future events occur or conditions are met. However, contingent consideration also may give the acquirer the right to the return of previously transferred consideration if specified conditions are met.

Carrying Amounts

The value at which an asset or liability is recognized in the balance sheet, considering factors like depreciation or amortization.