What is the primary method for customs valuation?

Valuation

Quiz
•
Financial Education
•
12th Grade
•
Medium
Arlon Alcancia
Used 6+ times
FREE Resource
13 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Transaction Value
Deductive Value
Fallback Value
Computed Value
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Under Method 1, what does PAPP stand for?
Price Actually Paid or Payable
Price After Payment Process
Payment Amount for Purchased Products
Price Adjustment for Profit
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When can Method 2 be used for valuation?
When goods are not sold for export
When there is a restriction of disposition
When buyer and seller are related
When conditions for Method 1 are not fulfilled
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the key characteristic of identical goods?
Same color and size
Same physical characteristics, quality, and reputation
Same manufacturer and importer
Same price and quantity
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the condition for using Method 4: Deductive Value?
Goods must have been sold in the Philippines in the same condition as imported
Goods must be produced by the same manufacturer
Purchaser must be related to the importer
Goods must be exported at least 90 days before importation
6.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Under Method 5: Computed Value, what is included in the 'Other costs'?
Customs duties, Insurance charges, Packing costs, Transport costs
Container costs, Assists, Packing costs, Engineering costs, Transport costs
Container costs, Assists, Packing costs, Engineering costs, Transport costs
Assists, Packing costs, Engineering costs, Transport costs, Duties
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of Method 6: Fallback Value?
To reverse the order of valuation methods
To eliminate the need for importer's request
To provide flexibility in determining dutiable value based on previously determined values
To calculate profit and general expenses accurately
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