Question # 1

Import means the purchase of goods and services from foreign countries are called

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Import trade

Export trade

Both a and b

None of these

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

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Bill of lading

Bill of sight

Bill of entry

None of these

The letter of credit is opened on the request of:

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Importer

Exporter

Government

None of these

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

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Close indent

Open indent

complete indent

None of these

The indent in which the complete detail of goods is written called

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Close indent

Open indent

Complete indent

None of these

A price, which includes cost of goods plus custom duty and all its relevant expenses up to this stage are called

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Duty paid

In bond price

Custom duties

Excise duty

Choose the full form of F.A.S

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Free Alongside Ship

Foreign Agricultural Service

Federation of American Scientists

None of these

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

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Bill of sight

Bill of lading

Bill of entry

Bill of order

A price, which includes cost of goods plus delivery charges, dock charges, ship freight, export duty and loading charges are called

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Ex-ship charges

In bond price

Duty paid

Custom duties

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

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Bill of entry

Bill of sight

Delivery order

Bill of lading

An import trader can get himself registered under

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Import and export control act 1950

Import and export control act 1952

Import and export control act 1975

None of these

Choose the correct full form of F.O.B

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Free On Board

Forward Operating Base

Fall Out Boy

Freight On Board

When goods are received in home country after purchasing them from other countries is called

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Import trade

Export trade

Both a and b

None of these

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

Choose an answer

Bill of sight

Bill of lading

Bill of entry

Bill of order

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

Choose an answer

Bill of lading

Bill of sight

Bill of entry

None of these

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Principle of Commerce Icom Part 1 English Medium Chapter 13 Online Test MCQs With Answers

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