s Question Completion Statu When a company has a subsidiary in a foreign country

Question

s Question Completion Statu When a company has a subsidiary in a foreign country, as far as the foreign countrys government is concerned that subsidiary is o a an exporter. O b. the importer of record. O C. an agent of the exporter. o d. a foreign trade zone. QUESTION 48 In the European Union, It has become difficuilt to conduct business on any payment terms other than a, documentary collection. O b. open accounts. O c cash in advance. od. letters of credit. Click Save and Submit to save and submit. Click Save All Answers to save all answers.

Explanation / Answer

The correct answer is option b.

Importer of record is custom law term which means that the importer is responsible for importing the goods as per the law of the place. The importer of record is responsible for paying the duties, tafriffs and fees of the imported goods. A subsidiary in foreign market is the importer of record and the export of goods takes place between the two legal entities of the same company at a transfer price.

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