Tag: import and export procedure

Quizzes (8) Questions (77)

Questions Related to import and export procedure

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

Finance is required by the exporters even after the shipment of product.

  1. True

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

Finance is required by the exporter even after the shipment of the product as the exporter has to pay for the various licensing and custom duties when the godds reach its destination in the foreign market.

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

Government of India is the apex body responsible for the country's external trade.

  1. True

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

Government of India is the apex body responsible for the country's external trade as the government develops the rules and regulations levied on the import and export trade made in India.

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

Post-shipment finances are the finances provided for purchasing, manufacturing, processing, packaging of goods.

  1. True

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

Finances provided for purchasing, manufacturing, processing, packaging of goods are the pre-shipment finances. The post shipment finances are suppliers credits, custom duties to be paid , export bills etc.

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

Reliance on other countries and international organizations for financial support is called ___________.

  1. foreign loan

  2. international borrowing

  3. external debt trap

  4. external assistance
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

External assistance refers to the support received from other countries or international organizations, which can include grants, loans, or technical aid.

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 a document of the title to the goods?

  1. Bill of lading

  2. Bill of entry

  3. Certificate of origin

  4. Letter of credit
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Bill of Lading is a document which is issued by the transporter of goods to the person to whom goods are transported. 

It acts as an evidence that the goods are being shipped to a specific person.