The __________ was the first major trade agreement of the twentieth century to establish rules and guidelines for global commerce.

A. North American Free Trade Agreement (NAFTA)
B. General Agreement on Tariffs and Trade (GATT)
C. Free Trade Area of the Americas (FTAA)
D. Asia Pacific Economic Cooperation (APEC)


Answer: B

Business

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Balance sheet accounts are also known as which of the following?

a. Nominal accounts b. Real accounts c. Temporary accounts d. Closing accounts

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Explain how the PLC applies differently to a product class than to a product form

What will be an ideal response?

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Which of the following is not a commonly used approach to setting transfer prices?

A) Market price approach B) Revenue price approach C) Negotiated price approach D) Cost price approach

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Those who are secondarily liable on negotiable instruments they endorse are known as ________

A) unqualified indorsers B) qualified indorsers C) accommodation parties D) agents

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