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International Business Law A Transactional Approach 2nd Edition By Larry A. – Test Bank

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  • ISBN-10 ‏ : ‎ 0324204914
  • ISBN-13 ‏ : ‎ 978-0324204919

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SKU:tb1002520

International Business Law A Transactional Approach 2nd Edition By Larry A. – Test Bank

CHAPTER SIX
NATIONAL IMPORT AND EXPORT REGULATION

TRUE/FALSE

1. The generalized system of preferences is a framework under which developed countries give preferential tariff treatment to manufactured goods imported from developing countries.
ANS: True

2. Manufacturing is not permitted on goods brought into a bonded warehouse under any circumstances.
ANS: False

3. Under the Harmonized Tariff Schedule all countries charge the same duty rate for the importation of the same products.
ANS: False

4. The HTS utilized in the United States is taken from an international classification scheme administered by the World Customs Organization (WCO).
ANS: True

5. The general rule-making authority in customs classification and assessment of duties in the U.S. is vested in the International Trade Commission (ITC).
ANS: False

6. The primary rule of interpretation in determining the appropriate HTS classification number is the essential character rule.
ANS: False

7. The foreign affairs doctrine states that it is the exclusive domain of the federal government to enact laws regulating international trade.
ANS: True

8. Ad Valorem duties are based on the weight or quantity of the good being imported.
ANS: False

9. In order to obtain the duty exemption for off-shore assembly found in Section 9802, exported items must be ready for assembly without further fabrication.
ANS: True

10. Foreign Trade Zones allow U.S. manufacturers to export goods without being subject to duties.
ANS: False

11. An importer concerned about a classification issue can get an advanced ruling from the Commissioner of Customs before importing the good.

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