The Practice of Taking Money from Sales Without Reporting It

question 117

True/False

The practice of taking money from sales without reporting it as income is called sliding.

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Definitions:

Foreign Sales Representative

An agent who distributes, represents, or sells goods on behalf of a foreign seller, usually in return for the payment of a commission.

Distributor

A merchant who purchases goods from a seller for resale in a foreign market.

GATT

The General Agreement on Tariffs and Trade, a multilateral treaty aimed at reducing trade barriers and promoting international trade through the elimination of or reduction in tariffs, quotas, and subsidies.

Tariffs and Trades

Government-imposed taxes on imported goods, often used to control trade balances and protect domestic industries.