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WAEC Commerce 1995 Question 21

Question 21

Foreign Trade

A refund usually granted for goods imported and later re-exported is called

  1. A.commission
  2. B.discount
  3. C.customs drawback
  4. D.dock due
  5. E.demurrage
Show the answer and explanation

Answer: C (customs drawback)

Explanation

A customs drawback refunds import duty on goods that are re-exported.