GATT Is Primarily Based on the Principle of Trade Protectionism

question 41

True/False

GATT is primarily based on the principle of trade protectionism.

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Definitions:

Journal Entry

An entry made in a journal that records a specific financial transaction, including amounts, accounts affected, and a description.

Control Procedures

These are policies and practices that organizations put in place to ensure the integrity of their financial and accounting information and to prevent fraud.

Reasonable Assurance

A level of confidence in the accuracy or reliability of a process, often used in context with financial controls and auditing.

Vulnerabilities

Weaknesses in a system that can be exploited by threats to gain unauthorized access or cause harm.