Tag: business organisation

Questions Related to business organisation

Which of the following documents are not required for obtaining an export license?

  1. IEC number

  2. Letter of credit

  3. Registration cum membership certificte

  4. Bank account number


Correct Option: B
Explanation:

Letter of credit refers to a letter issued by a bank to another bank to serve as a guarantee for payments made to a specified person under a specified condition. Registration with export promotion council and registration with ECGC required for obtaining export license.

Which one of the following is not a part of export document?

  1. Commercial invoice

  2. Certificate of origin

  3. Bill of entry

  4. Mate's receipt


Correct Option: C
Explanation:

Bill of entry gives an account of goods entered into a customs-house, detailing the merchants, quantity of goods, its types and place of origin and destination. The importers fills "bill of entry' form for the assessment of customs import duty.

____ means a good that is shipped from its country of origin to another country to be sold or traded.

  1. Import

  2. Domestic trade

  3. Export

  4. None of the above


Correct Option: C

Exports are one of the components of international trade.

  1. True

  2. False


Correct Option: A

_____ is an important document used by freight forwarders to prepare a bill of lading and to understand how much cargo is needed.

  1. Packing list

  2. Electronic Export Information

  3. Consular Invoice

  4. Commercial Invoice


Correct Option: A