The Assembly Department of Smart Computers Had 500 Units of Beginning

question 1

Multiple Choice

The Assembly Department of Smart Computers had 500 units of beginning inventory in the month of September and 2,000 units were transferred to it from the Production Department. The Assembly Department completed 1,000 units during the month and transferred them to the Packaging Department. Calculate the total number of units to account for by the Assembly Department.

• A)1,500 units
• B)2,000 units
• C)500 units
• D)2,500 units

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Definitions:

Customs Union

An agreement between two or more countries to remove trade barriers and reduce tariffs among them, and to establish a common external tariff against other countries.

Common External Tariff

A uniform tariff rate adopted by a customs union or common market on imports from countries outside the union.

Free Trade Area

A region where member countries have agreed to reduce or eliminate trade barriers, such as tariffs and quotas, among themselves.

Dumping

The practice wherein an exporter sells products in a foreign state for less than the price charged for the same or comparable goods in the exporter’s home market.