Tag: business organisation

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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

For promoting the export, the government has set up
1. The Central Advisory Board on Trade
2. The Trade Development Authority
3. The Federation of Indian Export Organisation
4. Commodity Boards
Which is correct?

  1. 1 and 3

  2. 2 and 4

  3. 1, 3 and 4

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

The government of India has established various bodies to promote exports, including the Central Advisory Board on Trade, Trade Development Authority, FIEO, and Commodity Boards.

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

High cost of packaging are needed by _______ .

  1. heavy Items

  2. small Items

  3. intangible Items

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

The heavy items need to be packaged properly for their safe and damage free export to the destination, this kind of packaging also needs high amount of resources and are costlier.

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

Import & Export require huge amounts of foreign investments.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Import and export do not require huge amount of foreign investment as the importer needs an exporter in foreign country. similarly, an exporter will need to follow export laws and need an importer in the foreign country. 

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

Produces do not have much contact with the foreign markets as goods are produced in the home country.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The producers of the goods or products usually distribute their goods to the the traders of the domestic country to export their products. The traders are much involved in the international markets than the producers themselves.

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

Under the ___________ scheme, an exporter is allowed duty free supply of inputs required to manufacture export goods.

  1. export manufacturing under bod scheme

  2. advanced license scheme

  3. exemption of payment of sales tax

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

Under the advanced license scheme, an exporter is allowed duty free supply of inputs required to manufacture export goods.

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

Various trade promotion measures and schemes available to business firms are mentioned in the ___________ policy.

  1. organisational

  2. export-import

  3. government

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

Various trade promotion measures and schemes available to business firms are mentioned in the export-import policy. this export-import policy is also known as the EXIM policy.

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

______________ is to encourage the import of capital goods for export production.

  1. EPCG

  2. Exemption of payment of sales tax

  3. Advance licence scheme

  4. All of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Export Promotion Capital Goods (EPCG) scheme is to encourage the import of capital goods for export production, it allows import of capital goods including spares for pre production, production, post production of export goods at zero duty.

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

______________ facility entitles firms to produce goods without payment of excise and other duties.

  1. EPCG

  2. Duty drawbacks

  3. Export manufacturing under bond scheme

  4. Neither of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Export manufacturing under bond scheme facility entitles firms to produce goods without payment of excise duties and other duties. the duties that are paid for the export goods are also refunded under duty drawback scheme.