Question # 1

A charter party is:

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A contract to reserve a ship for carrying goods

Application for opening the letter of credit

Letter of indemnity

All the three

What does happen after the exchange of goods:

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Development of cordial relations between the countries

More chances of fight or war

Economic crises arise

Scarcity of goods

How many copies of bill of lading are prepared

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Two

Three

Four

Five

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

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Economically

Politically

Stately/republically

None of the above

The document issued by an authorized officer after counting and checking the loaded goods on ship

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Shipping order

Receipt order

Marine insurance

Bill of lading

The bill of trading reveals the:

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Legal ownership of goods

Price of goods

Government ownership of goods

None of the above

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

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Export trade

Import trade

Entrepot trade

None of these

What is prepared after sending the goods:

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Bill of lading

Invoice

Receipt of mate

All of these

How many copies of bill of lading are prepared:

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Two

Three

Four

Five

What is written on the bill of entry of goods

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Quantity and price

Value of insurance

Quality and type

None of the above

Because of import trade, the demand for national / home products:

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Reduces

Increases

Remains normal

Both (a) and (b)

The document issued by an authorized office after counting and checking the loaded goods on ship:

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Shipping order

Receipt of mate

Marine insurance

bill of lading

The bill of lading reveals the

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Legal ownership of goods

Price of goods

Government ownership of goods

None of the above

Due to foreign trade, the less developed countries

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Becomes international slaves

Do not progress

Do not live along

None of these

What is written on the bill of entry of goods:

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Quantity and price

Value of insurance

Quality and type

None of the above

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Principle of Commerce Icom Part 1 English Medium Chapter 12 Online Test MCQs With Answers

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