1st Year Principles of Commerce Chapter 12 TestForeign Trade

Q1. Multiple choice questions (Attempt all · 10 × 1 = 10)

1. Due to foreign trade, the less developed countries:

   1. Becomes political slaves

   2. Do not progress

   3. Do not live alone

   4. None of the above

2. How many copies of bill of lading are prepared?

   1. Two

   2. Three

   3. Four

   4. Five

3. Who does write the delivery order?

   1. Exporter

   2. Owner of goods at port

   3. Importer’s bank

   4. Govt. agent

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

   1. Shipping order

   2. Receipt of mate

   3. Marine insurance

   4. Bill of lading

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

   1. Forwarding agent

   2. Clearing agent

   3. Commission agent

   4. underwriter

6. If goods are bought from an other country for exporting, it is called:

   1. Export trade

   2. Import trade

   3. Entrepot trade

   4. None of these

7. The bill of lading reveals the:

   1. Legal ownership of goods

   2. Price of goods

   3. Government ownership of goods

   4. None of the above

8. The exporter gets the certificate of origin from:

   1. Chamber of commerce

   2. Custom officials

   3. Importing bank

   4. Exporting bank

9. Because of internation trade the countries makes progress:

   1. Economically

   2. Politically

   3. Stately

   4. None of the above

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

    1. Easy

    2. Difficult

    3. Unimportant

    4. Important