A. Exports
B. Imports
C. The Value of a Commodity
D. Special Commodities
Correct Answer:
Option C – The Value of a Commodity
Explanation
An ad valorem tax (Latin for “according to value”) is a tax whose amount is based on the value of a transaction or of property. It is typically imposed at the time of a transaction, as in the case of a sales tax or value-added tax (VAT).
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