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WAEC Commerce 1992 Question 50

Question 50

Warehousing

Bonded warehouses are controlled by

  1. A.wholesale merchants
  2. B.Co-operative wholesale society
  3. C.Shipping and forwarding agencies
  4. D.Customs and Excise authorities
  5. E.freight forwarders
Show the answer and explanation

Answer: D (Customs and Excise authorities)

Explanation

Goods in a bonded warehouse have not yet paid duty, so the Customs and Excise authorities control it.