When a commercial sales transaction is quoted in a foreign currency, the date used for conversion purposes is:
A. the date the goods were sold.
B. the date the goods were packaged.
C. the date payment is transferred from the buyer to the seller.
D. the date the goods were exported from the country of export to the U.S.
E. the date the goods were imported into the U.S.
[bg_collapse view=”button-green” color=”#4a4949″ icon=”arrow” expand_text=”Show Answer and Citation” collapse_text=”Hide Answer and Citation” ]
The Answer is: D
Citation: 19 CFR 152.1(c) & 19 CFR 159.32
[/bg_collapse]