GK
ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The effect of the most-favored-nation (normal trade relations) clause is to
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eliminate all tariffs between countries
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increase all tariff rates between countries
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maintain a discriminatory structure of tariffs
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maintain a nondiscriminatory structure of tariffs
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Explanation:
Detailed explanation-1: -A contractual provision, also known as a most-favored-customer clause, prudent buyer clause, or non-discrimination clause, in which the seller promises the buyer that it will not offer another buyer better terms before offering those terms or better terms to the first buyer.
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