Importing Refers to the Transportation of Any Good or Service

question 23

True/False

Importing refers to the transportation of any good or service to a destination into a country or region, from a foreign origination point.

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Definitions:

Operating Segments

Components of an enterprise that engage in business activities from which it may earn revenues and incur expenses, whose operating results are reviewed regularly by the enterprise's chief operating decision maker.

Reportable

Refers to information or events that must be disclosed or reported to regulatory authorities or in financial statements according to legal or regulatory requirements.

U.S. GAAP

The Generally Accepted Accounting Principles in the United States, a set of accounting rules and standards used for financial reporting.

Major Customer

A client who contributes a significant portion of a company's revenue, often crucial to the company's financial health.