An Excise Tax That Is Applied to an Imported Product

question 48

Multiple Choice

An excise tax that is applied to an imported product which is not at all produced domestically is called a(n) :

• A) Protective tariff
• B) Revenue tariff
• C) Import quota
• D) Nontariff barrier

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Definitions:

Factory Overhead

All costs related to manufacturing that are not direct materials or direct labor.

Machine Hours

A measure of the total time that machinery is operated during a given period for manufacturing or producing something.

Bar Code Scanners

Electronic devices used to read and output printed barcodes to a computer, facilitating inventory management and sales operations.

Receiving Report

A document that records the details of goods received by a company, often used to verify shipments with purchase orders.