Question

QUESTION 32

1. With a foreign trade zone you may re-export when the prices in the international market improve

   True

   False

1 points   

QUESTION 33

1. In the case, Nissan v. U.S., the court concluded the imported production machinery is duty free because without the machinery Nissan would leave the U.S. for a more hospitable country

   True

   False

1 points   

QUESTION 34

1. The “formal entry” refers to the process required to import goods into the customs territory of a country

   True

   False

1 points   

QUESTION 35

1. Goods many only be entered into customs territory through a licensed importer or licensed custom’s broker

   True

   False

1 points   

QUESTION 36

1. If entry is done by way of a licensed custom’s broker, the importer is relived of any financial liability

   True

   False

Answer 1

Answer 32 - This statement is true. Goods can be reexported when conditions are favourable.

Answer 33 - This statement is false. The production of motor vehicles is subject to duty as prescribed by the United States Customs laws.

Answer 34 - This statement is true. A custom's broker is the authorised agent.

Answer 35 - This statement is true.

Answet 36 - This statement is false. By law, goods can enter in the custom's territory only through a custom broker but that does not relieve the importer of financial liability.