When Dutiable Value Is Determined Based on the Resale Price

question 37

Multiple Choice

When dutiable value is determined based on the resale price of goods it is called:

• A) Deductive value.
• B) Computed value.
• C) Resale transaction value.
• D) Calculated value.

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Definitions:

Private Property

An ownership model where the possession of land, resources, or items is vested in individuals or organizations, distinct from public or state ownership.

Will

A document executed with specific legal formalities that contains a person’s instructions about the disposition of his property at his death.

Transferred

In the context of property or legal rights, refers to the act of moving ownership, authority, or responsibility from one party to another.

Validly Executed

A legal term indicating that a document has been signed and carried out according to the required legal formalities.