Which of the Following Organizations Started as a Customs Union

question 8

Multiple Choice

Which of the following organizations started as a customs union but transformed into a common market?

• A)European Union
• B)NAFTA
• C)EFTA
• D)Southern Common Market

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Definitions:

General Unsecured Creditors

Creditors who have claims against a debtor without specific collateral backing those claims, ranking below secured creditors in priority for repayment.

Bankruptcy Estate

All legal and equitable interests of the debtor in property at the time of the bankruptcy filing.

Wages

Payments made to employees for their labor or services, typically calculated on an hourly, daily, or piecework basis.

Commencement

The act or time of beginning; refers to the start of something, such as a process, event, or period in time.