Duties and Customs, Taxes, and Licensing Are Examples Of

question 16

Multiple Choice

Duties and customs, taxes, and licensing are examples of:

• A)intellectual trade property rights.
• B)tariff trade barriers.
• C)non-tariff trade barriers.
• D)General Agreement in Trades and Services.
• E)balance of payments.

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Definitions:

Accounting Standard-Setting

The process of developing the rules and guidelines that govern the preparation and presentation of financial statements.

Financial Accounting Standards Board

An independent organization responsible for establishing and improving financial accounting and reporting standards in the United States.

Securities and Exchange Commission

A U.S. federal agency responsible for enforcing the federal securities laws and regulating the securities industry, stock and options exchanges.

Bookkeeping

A part of the accounting process that involves only the recording of economic events.