For each of the following five transactions,indicate by letter whether the cash effect of each transaction is reported in a statement of cash flows as an operating (O),investing (I),financing (F),or noncash (NC)activity.
Definitions:
Average Tariff
The average rate of duty or tax levied on imported goods.
Imports
Goods or services bought from foreign countries for domestic consumption or use.
Free Trade
International trade left to its natural course without tariffs, quotas, or other restrictions.
Absolute Advantage
The ability of an individual, company, or country to produce a good or service at a lower cost per unit than the cost at which any other entity can produce the same good or service.
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