CM203 Q2

CM203 Q2

12th Grade

30 Qs

quiz-placeholder

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CM203 Q2

CM203 Q2

Assessment

Quiz

Other

12th Grade

Medium

Created by

Crisvi Lazaro

Used 16+ times

FREE Resource

30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the role of the District Collector in establishing warehouses?

To collect taxes from warehouse operators

To approve all warehouse applications

To manage the operations of all warehouses

To designate and establish warehouses

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What must a manufacturer file for operating a bonded manufacturing warehouse?

Sufficient security for compliance

A business license

An environmental impact assessment

A tax exemption certificate

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a type of Customs Bonded Warehouse?

International Bonded Warehouse

Customs Common Bonded Warehouse

Private Bonded Warehouse

Public Bonded Warehouse

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of a Customs Bonded Warehouse?

To store goods for domestic sale

To store goods duty and tax-free

To manufacture goods for local markets

To provide storage for personal items

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is required for the establishment of a bonded warehouse according to Section 804?

A written application to the District Collector

A verbal agreement with the Commissioner

A public hearing

A financial audit

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the maximum percentage of raw materials that can be withdrawn for domestic consumption from a MCBW?

20%

40%

10%

30%

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which authority is responsible for the licensing of all Customs Bonded Warehouses?

The Secretary of Finance

The Bureau of Customs

The Department of Trade and Industry

The National Economic and Development Authority

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