A Broker or Other Import Consultant Can Help an Importer

question 51

Multiple Choice

A broker or other import consultant can help an importer minimize import duties by ________.

• A) bypassing duty rebates available through drawback provisions
• B) incurring duties by using non-bonded warehouses and foreign trade zones
• C) maximizing liability by improperly marking an import's country of origin
• D) valuing products in such a way that they qualify for more favorable duty treatment

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Definitions:

Days' Sales

Days' sales, often used in the context of days' sales outstanding (DSO), measures the average number of days that a company takes to collect revenue after a sale has been made.

Financial Statements

Structured documentation of financial transactions and status of a company, individual, or different entity.

Vertical Analysis

A method of financial statement analysis in which each entry of the main categories of the financial statements is listed as a percentage of another item.

Gross Profit

The financial gain made after subtracting the cost of goods sold from the total revenue generated from sales.