Q.A warehouse licensed by customs authorities to store imported goods on which import duty has NOT yet been paid, with the goods remaining under customs control until the duty is actually paid, is called a:
(A) Private Warehouse
(B) Public Warehouse
(C) Bonded Warehouse
(D) Co-operative Warehouse

Holding imported goods under customs control until duty is paid is the specific mark of a bonded warehouse, distinguished by the legal status of the goods, not by ownership.

A Bonded Warehouse is licensed by customs authorities specifically to store imported goods on which import duty has not yet been paid; the goods remain "in bond", under customs control, and the importer pays the duty only when the goods are actually released for sale in the domestic market. This is different from every other warehouse type, which is distinguished by ownership rather than the legal status of the goods.

Option-by-option analysis:

• (A) Incorrect — a Private Warehouse is simply owned and used by one business for its own goods, with no customs bonding involved. …