Which of the following is true regarding informal entries?

Informal entries are processes used in customs that simplify the importation of certain goods. The statement that they do not require a bond is accurate because informal entries typically involve shipments that do not exceed a specified value threshold, which is set to expedite the process and reduce the administrative burden on customs.

This means that for these lower-value imports, the requirement for a bond—which is usually necessary to ensure that duties and fees will be paid—is waived. This is significant for both importers and customs authorities, as it allows for quicker processing and clearance of goods.

While the other statements may include some truth about informal entries, they do not capture the essential feature regarding the bond requirement. They do not always require a bond and license, they are not exempt from duty fees altogether, and while they often involve personal use items, this is not a defining aspect of informal entries, as they can also include commercial goods that meet the criteria for informal treatment.