1st Year Principles of Commerce Chapter 13 TestImport Trade

Q1. Multiple choice questions (Attempt all · 8 × 1 = 8)

1. If the price of goods includes the expenses till custom duty, it is called:

   1. Duty paid

   2. Custom paid

   3. Inbond

   4. None of these

2. The source of importing goods:

   1. Trader

   2. Indent firm

   3. Foreign purchase office

   4. All the above

3. 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

4. The letter of credit is opened on the request of:

   1. Importer

   2. Exporter

   3. Government

   4. None

5. 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:

   1. Bill of sight

   2. Bill of lading

   3. Bill of entry

   4. Bill of order

6. 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 sight

   3. Bill of entry

   4. None of the above

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

   1. Close indent

   2. Open indent

   3. Complete indent

   4. None of these

8. Of the trader does not want to get the goods himself, he issues to the officials:

   1. Bill of entry

   2. Bill of sight

   3. Delivery order

   4. Bill of lading