Question

Warehouses licensed by the government and established specifically for storage of dutiable goods are called ______.

Options

• Private warehouses

• Bonded warehouses

• Public warehouses

• Cold storages

Answer 1

Warehouses licensed by the government and established specifically for storage of dutiable goods are called Bonded warehouses.

Explanation:

A bonded warehouse is established under a bond with the customs authorities for storage of dutiable goods till the payment of import duty.