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WAEC Commerce 1995 Question 19

Question 19

Foreign Trade Documents

Which of the following is used to ascertain the correct value of imports for purposes of assessing customs duty?

  1. A.Certificate of origin
  2. B.Open-indent
  3. C.Bill of Lading
  4. D.Ships manifest
  5. E.Bill of entry
Show the answer and explanation

Answer: E (Bill of entry)

Explanation

The importer fills a bill of entry describing the goods and their value, and customs uses it to work out the duty.