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WAEC Commerce 2012 Question 40

Question 40

Foreign Trade Documents

The document which is used when a country imposes ad valorem duties is

  1. A.bill of lading.
  2. B.consular invoice.
  3. C.certificate of origin.
  4. D.open indent.
Show the answer and explanation

Answer: B (consular invoice.)

Explanation

Ad valorem duty depends on value, which the consular invoice certifies.