With Regards to the Customs Act, Which of the Following

question 10

Multiple Choice

With regards to the Customs Act, which of the following statements is true?

• A)The main function of customs officials is to support Canadian businesses in developing foreign markets.
• B)Export Development Canada enforces regulations regarding imports.
• C)The Canadian Border Services Agency empowers customs officials to enforce regulations restricting what can be imported.
• D)NAFTA and WTO regulations override any regulation as set out by the Customs Act.
• E)Customs officials are empowered to enforce various regulations restricting the export of goods.

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Definitions:

Crowdfunding

The practice of funding a project or venture by raising small amounts of money from a large number of people, typically via the Internet.

Capital

The wealth, whether in money or assets, owned or employed in business by an individual, firm, corporation, etc.

Venture

An endeavor or project that involves risk but is pursued with the expectation of future gains.

Crowdfunding

The method of supporting a project or business by collecting minor contributions from a vast number of individuals, usually through the internet.