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Principles of Commerce ICOM Part 01 Top 500 + MCQS Download Pdf
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Chapter # 13

Import Trade

Encircle the most appropriate answer from the following options

1 If the price of goods includes the expenses till custom duty vit is called:

  1. Duty paid      
  2. Inbond
  3. Custom paid   
  4. None of these

2 The indent in which the complete detail of goods written called:

  1. Close indent
  2. Complete indent
  3. Open indent
  4. None of these

3 If the importer cannot supply the details -to customer officials then he gives an application to the to examine the goods, this statement is called:

  1. Bill of sight
  2. Bill of entry
  3. Bill of lading
  4. Bill of order

4 If the trader does not want to get the goods himself, he issues to the officials:

  1. Bill of entry     
  2. Delivery order
  3. Bill of sight      
  4. Bill of lading

5 After the arrival of goods at port, the importer presents its complete detail to custom officials, this detail is called:

  1. Bill of lading    
  2. Bill of entry
  3. Bill of sight      
  4. None of these

6 The letter of credit is opened on the request of:

  1. Importer
  2. Exporter
  3. Government
  4. None of these

7 The source of importing goods:

  1. Wholesaler (trader)    
  2. Foreign purchase office
  3. Indent firm      
  4. All the above

8 An import trader can get himself registered under:

  1. Import and export control Act 1950
  2. Import and export control Act 1952
  3. Import and export control Act 1975
  4. None of these

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