Countries That Have Been Found by the Arbitration Panel to Violate

question 19

Multiple Choice

Countries that have been found by the arbitration panel to violate GATT rules may appeal to _____ of the World Trade Organization,but its verdict is binding.

• A)human rights commission
• B)permanent appellate body
• C)International Court of Justice
• D)Security Council

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Definitions:

Double-Entry Bookkeeping System

An accounting method that records every financial transaction in at least two accounts, ensuring that the accounting equation (assets = liabilities + owner's equity) remains balanced.

Single-Entry System

An accounting method where each transaction is recorded only once, either as an income or an expense, not used in double-entry bookkeeping.

Accounting Documents

Records that encapsulate financial transactions and positions relevant to a business or individual.

Invoices

Documents issued by a seller to a buyer, detailing products or services provided, prices, terms of sale, and payment instructions.