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WAEC Commerce 2015 Objective — Question 24

Question 24 of 50 from the West African Examinations Council (WAEC) Commerce 2015 Objective paper, with the correct answer and a full explanation.

Duty drawback refers to duties paid on

A. exported goods produced with local content
B. re-exported goods previously imported for goods sold locallyCorrect
C. locally manufactured goods for sale locally

Explanation

Duty drawback is a refund of duties charged on re-exported imported goods.

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