Foreign businesses in India appear to receive unusually close scrutiny and special regulations, aimed at protecting the local businesses. This is an example of a(n) ________

Accounts payable (A/P) confirmations are generally used less frequently than accounts receivable confirmations since

A) other procedures such as the search for unrecorded liabilities are generally very effective B) A/P confirmations generally have lower response rates than account receivables confirmations C) A/P confirmations do not address the existence assertion D) A/P confirmations do not address specific audit assertions

Why does the tariff system vary from country to country? Explain, giving examples of tariffs imposed by the United States with particular emphasis on preferential tariffs

What are the conditions under which GATT allows the use of preferential tariffs?