Valuation

Valuation

12th Grade

13 Qs

quiz-placeholder

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Valuation

Valuation

Assessment

Quiz

Financial Education

12th Grade

Medium

Created by

Arlon Alcancia

Used 6+ times

FREE Resource

13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary method for customs valuation?

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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