Which of the Following Is a Typical Limitation in How

question 53

Multiple Choice

Which of the following is a typical limitation in how an infant industry is protected?

• A) The infant industry is coddled,preventing it from developing into a mature,internationally viable firm.
• B) Protection is usually limited to consumer goods.
• C) Most industries are not viable on their own,so protecting these industries would be an efficient use of resources.
• D) Protection is never given to capital manufacturing.

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Definitions:

Adjusting Entries

Documentation in accounting completed at the end of a financial period to rightly assign incomes and expenses to the appropriate time.

Office Supplies

Items used in offices for daily operations, such as paper, pens, and staplers.

Interest-Bearing Note

A promissory note with a specified interest rate, where the issuer agrees to pay the bearer interest in addition to repaying the principal amount at maturity.

Adjusting Entries

Accounting records finalized at the close of an accounting period to properly assign income and expenses to the period they truly belong to.