A Corporation ________

question 92

Multiple Choice

A corporation ________.

• A)is a legal entity separate from the owners
• B)is a manufacturer and not a service organization
• C)may cause unlimited liability for its shareholders
• D)provides goods or services for the sole purpose of helping people

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Definitions:

WTO

Short for World Trade Organization, an international body aimed at promoting and facilitating free trade by reducing tariffs and other trade barriers.

Tariff

A tax or duty to be paid on a particular class of imports or exports, used by governments to regulate trade.

Normal Trade Relations

A GATT principle of trade law which requires that WTO member states treat like goods coming from other member states on an equal basis.

GATT

General Agreement on Tariffs and Trade, a multilateral treaty aimed at reducing global barriers to trade and promoting international commerce.