A Tax Placed on Imports Is Known as

question 233

Multiple Choice

A tax placed on imports is known as

• A) voluntary restraint agreement.
• B) tariff.
• C) quota.
• D) infant industry.

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Definitions:

Capitalized

The process of recording a cost or expense on the balance sheet for the purposes of spreading out the expense over the useful life of an asset, rather than charging it to expense all at once.

Interest Cost

The total cost of borrowing funds, typically expressed as a percentage of the borrowed amount, over the period of the loan.

Construction

Construction refers to the process of building, assembling, or creating infrastructure, buildings, and other physical structures through planning, design, and execution.

GAAP

Generally Accepted Accounting Principles, which are a set of accounting standards and principles used in the United States.