Albania Offered Such Items as Spring Water,tomato Juice,and Chrome Ore

question 106

Multiple Choice

Albania offered such items as spring water,tomato juice,and chrome ore in exchange for a $60 million fertilizer and methanol complex.Which type of countertrade is this?

• A)Offset
• B)Switch trading
• C)Buyback
• D)Barter

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Definitions:

Premium Wheat

Wheat that surpasses standard quality criteria and may therefore command a higher price on the market.

Accounting Errors

Mistakes or omissions made in the accounting process, which may require adjustments to previously published financial statements.

Internal Audit Staff

Employees of an organization who perform independent and objective evaluations of the effectiveness and compliance of the firm's operations, including the reliability of financial reporting.

Consignment

An arrangement where goods are left in the possession of another party to sell, but ownership and title remain with the supplier until the goods are sold.