The Restriction on the Importing of Garments Made in Cambodia

question 121

Multiple Choice

The restriction on the importing of garments made in Cambodia into the U.S.is lower for those manufacturers that allow their factories to be monitored by the International Labor Organization (ILO) .These restrictions are examples of:

• A)GATT taxes.
• B)blocked currencies.
• C)quotas.
• D)foreign excise taxes.

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Definitions:

Liquidation Proceeding

A legal process through which a business closes its operations and sells its assets to pay creditors.

Trustee

A person or organization that holds and manages assets on behalf of others, under a legal agreement.

Distribution

The process of giving out products or goods to the final consumer or distributor.

Chapter 7 Liquidation

A bankruptcy process where a debtor's assets are sold off to pay creditors, leading to the closure of the business.