Tariffs are computed:
I.As a percentage of value (ad valorem).
II.On the basis of physical units (specific).
A) I only.
B) II only.
C) Both I and II.
D) Neither I nor II.

Name: Tariffs are computed: I.As a percentage of value (ad valorem). II.On the basis of physical units (specific). A) I only. B) II only. C) Both I and II. D) Neither I nor II.
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Quizplus · Accepted Answer

Tariffs can be calculated based on both the value of the goods (ad valorem) and the physical units (specific), hence both I and II are correct.

Tariffs Are Computed: I.As a Percentage of Value (Ad Valorem)