Which of the Following Does Not Affect the Cost Associated

question 18

Multiple Choice

Which of the following does not affect the cost associated with producing and selling goods and services in global markets?

• A)Tariffs.
• B)Duties.
• C)Special trade zones.
• D)Sales or Use tax rates in the United States.

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Definitions:

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts, preparing the books for the next period.

Depreciation Expense

This is an accounting method used to allocate the cost of a tangible asset over its useful life.

Salaries and Wages Expense

The total cost incurred by an employer for employee compensation, including both salaries and hourly wages.

Temporary Account

An account that is closed at the end of each accounting period and its balances transferred to permanent accounts; examples include revenues, expenses, and dividends accounts.