Which of the following statements is true of foreign trade zone? It is an area through which merchandise is allowed to pass with fewer procedures but higher taxes. These areas provide very limited employment opportunities. International companies can store goods in these zones without incurring taxes, before shipping them to other countries. Goods imported into these zones require import licenses and are subject to import duties.
Which of the following statements is true of foreign trade zone? It is an area through which merchandise is allowed to pass with fewer procedures but higher taxes. These areas provide very limited employment opportunities. International companies can store goods in these zones without incurring taxes, before shipping them to other countries. Goods imported into these zones require import licenses and are subject to import duties.
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter13: Emerging Topics In Managerial Accounting
Section: Chapter Questions
Problem 15MCQ
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Which of the following statements is true of foreign trade zone?
It is an area through which merchandise is allowed to pass with fewer procedures but higher taxes.
These areas provide very limited employment opportunities.
International companies can store goods in these zones without incurring taxes, before shipping them to other countries.
Goods imported into these zones require import licenses and are subject to import duties.
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