{"id":8872,"date":"2024-04-15T03:07:33","date_gmt":"2024-04-15T03:07:33","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=8872"},"modified":"2024-04-15T03:07:33","modified_gmt":"2024-04-15T03:07:33","slug":"xyz-firm-has-imported-a-machine-from-abroad-which-of-the-following-is-not-the-element-of-the-machines-cost-a-purchase-price-of-machine-b-import-duty-c-demmurage-charges-d-refundable-tax","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/xyz-firm-has-imported-a-machine-from-abroad-which-of-the-following-is-not-the-element-of-the-machines-cost-a-purchase-price-of-machine-b-import-duty-c-demmurage-charges-d-refundable-tax\/","title":{"rendered":"XYZ firm has imported a machine from abroad. Which of the following is NOT the element of the machine’s cost? A. Purchase price of machine B. Import duty C. Demmurage charges D. Refundable tax"},"content":{"rendered":"

[amp_mcq option1=”Purchase price of machine” option2=”Import duty” option3=”Demmurage charges” option4=”Refundable tax” correct=”option4″]<\/p>\n

The correct answer is D. Refundable tax.<\/p>\n

The purchase price of the machine is the cost of the machine itself, including any shipping and insurance costs. Import duty is a tax that is levied on imported goods. Demurrage charges are fees that are charged to the importer if the goods are not unloaded from the ship within a certain period of time. Refundable tax is a tax that is paid on imported goods, but which can be refunded if the goods are exported.<\/p>\n

In this case, the purchase price of the machine, import duty, and demurrage charges are all elements of the machine’s cost. However, refundable tax is not an element of the machine’s cost because it is a tax that can be refunded if the goods are exported.<\/p>\n","protected":false},"excerpt":{"rendered":"

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