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

If the price and quality of goods alongwith other factors are decided before the execution of order then it is called

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Close indent

Open indent

Both a and b

None of these

By storing some items in the warehouses for a long period of time

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Price increases

Price decreases

price remains stable

Items perishes

A person who sells goods of merchant to another person is called

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Retailer

Middleman

Agent

Wholesaler

The source of importing goods:

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Wholesaler (trader)

Indent firm

Foreign purchase office

All 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)

An agent appointed for sending goods to other countries is called

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Export agent

Import agent

Forwarding agent

Clearing agent

According to work, the main types of machines

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Two

Three

Four

Five

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

Sole proprietor's is generally carried on:

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Small scale

Medium scale

Large scale

All the above

If any business organization is considered as a body then office is its

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Capital

Heart

Brain

None of these

Number of local chambers of commerce and industry in Pakistan after establishment

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2

5

7

12

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

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Easy

Difficult

Unimportant

Important

Which ship travels on regular route and follows its time schedule strictly:

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Tramp

Liner

Tanker

None of these

Which insurance policy can be used as a security:

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Marine insurance

Fire insurance

Lifeinsurance

All the three

Office means a place where

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Organization's records/papers are kept

Workers take rest

Visitors wait

Clerical work is done besides keeping records

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