One of the Following Is Required When Import Duties Are

question 33

Multiple Choice

One of the following is required when import duties are charged on purchases -

• A) change the inventory ledger settings to charge duty on inventory items
• B) change the payables ledger settings to charge import duties
• C) enter a linked account to track import duties
• D) change the system settings to charge import duties

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Definitions:

Risk of Loss

Refers to the possibility of an asset's value decreasing due to changes in market conditions or other unforeseen circumstances.

Sales Contract

A legal agreement between a buyer and seller outlining the terms of a sale of goods or services.

Insure

To provide or obtain insurance coverage against risk or loss.

Rights

Entitlements or freedoms granted to individuals or groups by law, social convention, or moral principles.