GATT Definition

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GATT (GENERAL AGREEMENT ON TARIFFS AND TRADE) is a multilateral treaty that aims to reduce trade barriers and increase trade. The GATT was an interim treaty process that has now culminated in the World Trade Organization (WTO).

Learn new Accounting Terms

CONSUMMATE is to bring to completion or fruition; conclude, e.g., consummate a business transaction.

OPERATING LEVERAGE is fixed operating costs divided by total (fixed plus variable) operating costs.

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