Paper 2 · November 2004 · Customs and trade restrictions
Which of the following is a function of Customs and Excise Authorities?
AIssuing memoranda of association to new private companies
BProviding insurance cover against the risk of theft of imported goods
CCollecting customs duty on imports and compiling statistics on trade
DSetting the exchange rate between the local currency and foreign currencies
Explanation
Customs and Excise Authorities collect customs duty and compile statistics on imports/exports.
Derived from ZIMSEC Commerce 7103/02 Paper 2, November 2004, Q3