Principles of Commerce ICOM Part 01 Top 500 + MCQS Download Pdf Chapter No 12

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Principles of Commerce ICOM Part 01 Top 500 + MCQS Download Pdf
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Chapter # 12

Foreign Trade

Encircle the most appropriate answer from the following options

1 Due to foreign trade, the less developed countries:

  1. Becomes international slaves        
  2. Do not live alone
  3. Do not progress         
  4. None of these

2 In case of emergency, foreign trade makes the supply of goods:

  1. Easy
  2. Unimportant
  3. Difficult
  4. Important

3 The bill of lading reveals the:

  1. Legal ownership of goods
  2. Government ownership of goods
  3. Price of goods
  4. None of the above

4 Because of international trade, the less developed countries make progress:

  1. Economically
  2. Stately/republically
  3. Politically        
  4. None of the above

5 How many copies of bill of lading are prepared:

  1. Two    
  2. Four
  3. Three 
  4. Five

6 What is prepared after sending the goods:

  1. Invoice
  2. Bill of lading
  3. Receipts of mate
  4. All of the above

7. What does happen after the exchange of goods:

  1. Development of cordial relations between the countries
  2. More chances of fight or war
  3. Economic crises arise
  4. Scarcity of goods

8. what is written on the bill of entry of goods

  1. Quantity and price
  2. Value of insurance
  3. Quality & type
  4. None of these

9 A charter party is:

  1. A contract to reserve a ship for carrying goods
  2. Application for opening the letter of credit
  3. Letter of indemnity
  4. All of the above

10 Who does write the delivery order: Exporter

  1. Owner of goods at port
  2. Importer’s bank
  3. Govt agent
  4. one of the above

11 Because of foreign trade the demand for national /home product

  1. Reduce
  2. Increase
  3. Remain normal
  4. Both 1 & 2

12 The documents issued by the Authorized officer after counting & checking the loaded goods on ship:

  1. Shipping order
  2. Receipt of mate
  3. Marine insurance
  4. Bill of lading

13. The person who makes arrangements for the departure of goods:

  1. Forwarding agent
  2. Commission agent
  3. Clearing agent
  4. Underwriter

14 The exporter gets the certificate of origin from:

  1. Chamber of commerce       
  2. Importing bank
  3. Custom officials         
  4. Exporting bank

15 If goods are bought from another country for exporting, it is called:

  1. Export trade
  2. Import trade
  3. Entrepot trade
  4. None of these

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