Tag: business organisation

Quizzes (48) Questions (651)

Questions Related to business organisation

Multiple choice business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

Franchising is the practice of using another firms _________.

  1. workers

  2. property

  3. successful business model

  4. all of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Franchising is the practice of using another firms successful business model. a franchise is a business opportunity that allows the franchisee to start business by legally using someone else's  expertise, ideas, and processes.

Multiple choice business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

Which of the following is/are the Method(s) of payment in international trade ________?

  1. Cash-in-Advance

  2. Letters of Credit

  3. Documentary Collections

  4. Any of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

International trade utilizes various payment methods to mitigate risk, including cash-in-advance, letters of credit, and documentary collections, depending on the trust level between parties.

Multiple choice business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

___________ is a commitment by a bank on behalf of the buyer that payment will be made to the exporter if the terms and conditions are met.

  1. Letter of credit

  2. Consignment

  3. Open Account

  4. None of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

letter of credit is bank guarantee which is provided by the bank to the party concern .stating that if partty defaults the bank will pay on the behalf of party

Multiple choice business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

_______  are one of the most secure instruments available to international traders.

  1. Documentary Collections

  2. Letters of Credit

  3. Cash-in-Advance

  4. Open Account
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Letters of Credit are highly secure because they involve banks guaranteeing payment to the seller upon presentation of compliant documents, reducing the risk for both parties.

Multiple choice business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

________ is a sale where the goods are shipped and delivered before payment is due, which is usually in 30 to 90 days.

  1. Letters of credit

  2. Cash-in-Advance

  3. An open account transaction

  4. None of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

An open account transaction is a sale where the goods are shipped and delivered before payment is due, placing the credit risk primarily on the exporter.

Multiple choice business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

The payment collection mechanism that allows exporters to retain ownership of the goods or reasonably ensures their receiving payments is known as _______.

  1. Letter of Credit

  2. Documentary Collection

  3. Bill of exchange

  4. Consignment
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Documentary Collection allows the exporter to use a bank to collect payment in exchange for documents, ensuring the importer cannot take possession of the goods without paying or accepting a draft.

Multiple choice business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

Under _______ price quotation, goods are delivered to the buyers at their door-step.

  1. Free Alongside Ship (FAS) Price Quotation

  2. Franco Price Quotation

  3. Cash On Delivery (COD) Price Quotation

  4. Cost and Freight (C & F) Price Quotation
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Franco price quotation (often referred to as DDP or Delivered Duty Paid) implies that the seller bears all costs and risks, including delivery to the buyer's premises.

Multiple choice business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

Under ________ price quotation, seller's responsibility is to send the goods to the nearest railway station from his warehouse.

  1. Station

  2. Free On Rail

  3. Cost and Freight

  4. Loco
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Station price quotation indicates that the seller's responsibility ends once the goods are delivered to the specified railway station.

Multiple choice business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

These are officials appointed by the Government to represent the country's interests abroad.

  1. Trade Commissioners

  2. Merchant Exporter

  3. Export Houses

  4. Indent Houses
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Trade Commissioners are government officials stationed abroad to promote their country's commercial interests and assist local businesses in international markets.