Foreign Trade Zones Are Also Called

question 80

Multiple Choice

Foreign trade zones are also called:

• A) free trade zones.
• B) transit zones.
• C) free perimeters.
• D) export processing zones.
• E) all of the above.

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Definitions:

Ending Inventory

The cost of merchandise ready to be sold at the close of an accounting cycle, found by taking the initial inventory, adding purchases, and subtracting the cost of goods sold.

Inventory Valuation

The method used to assign a monetary value to inventory, which affects the cost of goods sold and gross profit.

Weighted Average

A calculation that takes into account the varying degrees of importance of the numbers in a data set, often used in cost accounting.

Ending Inventory

The aggregate worth of items on offer at the termination of an accounting cycle.