O-LevelCommerceWarehousing7100/12 · Oct/Nov 2012 · Q281 Mark

Imports may be stored in a bonded warehouse if

Athe importer wishes to delay payment of customs duty.

Bthe rightful owner is not known.

Cthey are required as security for a loan.

Dthey are smuggled goods seized by customs officers.

✓ Correct answer

A: the importer wishes to delay payment of customs duty.

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Topic: Warehousing, O-Level Commerce (syllabus 7100). Multiple choice, 1 mark.
Source: O-Level Commerce, Oct/Nov 2012 Paper 1 Variant 2, question 28.

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