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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
Solution
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.
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