Which of the Following Factors Resulted in the Establishment of the European

question 37

Multiple Choice

Which of the following factors resulted in the establishment of the European Union (EU) ?

• A)The spectacular success of the North American Free Trade Agreement (NAFTA).
• B)The trade impasse following the oil crisis in the 1970s that occurred due to collusion among oil producing nations.
• C)The devastation of Western Europe during two world wars and the desire for a lasting peace.
• D)The emergence of Japan as an economic and industrial superpower despite the nuclear holocaust.

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Definitions:

Specific Identification

Specific identification is an inventory valuation method that tracks the cost of individual items for the purpose of determining cost of goods sold and ending inventory.

Accepted Methods

Refers to officially recognized or sanctioned techniques or procedures used in a particular field or discipline.

Days' Sales In Inventory

A financial metric that measures the average number of days a company takes to sell its inventory.

Ending Inventory

The value of unsold goods at the end of an accounting period.