First Year Principles of Commerce Chapter 13 Online MCQ Test for 1st Year Principles of Commerce Chapter 13 (Import Trade)

This online test contains MCQs about following topics:

Meaning & definition of import trade . Doucments and terms used in foreign trade . Means of importing goods . Methods of imternational payment . Procedure of importing goods

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MCQ's Test For Chapter 13 "Principle of Commerce Icom Part 1 English Medium Chapter 13 Online Test"

Try The MCQ's Test For Chapter 13 "Principle of Commerce Icom Part 1 English Medium Chapter 13 Online Test"

  • Total Questions15

  • Time Allowed20

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Principle of Commerce Icom Part 1 English Medium Chapter 13 Online Test

00:00
Question # 1

A price, which includes cost of goods plus custom duty and all its relevant expenses up to this stage are called

Question # 2

After the arrival of goods at port, the importer presents its complete detail to custom officials, this detail is called

Question # 3

The letter of credit is opened on the request of

Question # 4

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

Question # 5

Choose the correct full form of F.O.B

Question # 6

A price, which includes cost of goods plus delivery charges, dock charges, ship freight, export duty and loading charges are called

Question # 7

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:

Question # 8

Import means the purchase of goods and services from foreign countries are called

Question # 9

If the trader does not want to get the goods himself, he issues to the officials

Question # 10

After the arrival of goods at port, the importer presents its complete detail to custom officials, this detail is called:

Question # 11

Choose the full form of F.A.S

Question # 12

How many important terms of import trade

Question # 13

Choose the correct full form of C&F

Question # 14

The letter of credit is opened on the request of:

Question # 15

If the price of goods includes the expense till custom duty, it is called:

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ICom Part 1 Principle of Commerce (English Medium) Chapter 13 Important MCQ's

Sr.# Question Answer
1 An import trader can get himself registered under:
A. import and export control Act 1950
B. import and export control Act 1952
C. import and export control Act 1975
D. None of these
2 After the arrival of goods at port, the importer presents its complete detail to custom officials, this detail is called:
A. Bill of lading
B. Bill of sight
C. Bill of entry
D. None of these
3 If the trader does not want to get the goods himself, he issues to the officials
A. Bill of entry
B. Bill of sight
C. Delivery order
D. Bill of lading
4 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
A. Bill of sight
B. Bill of lading
C. Bill of entry
D. Bill of order
5 A price, which includes cost of goods plus custom duty and all its relevant expenses up to this stage are called
A. Duty paid
B. In bond price
C. Custom duties
D. Excise duty
6 The indent in which the complete detail of goods is written called:
A. Close indent
B. Open indent
C. complete indent
D. None of these
7 A price, which includes cost of goods plus delivery charges, dock charges, ship freight, export duty and loading charges are called
A. Ex-ship charges
B. In bond price
C. Duty paid
D. Custom duties
8 How many important terms of import trade
A. 18
B. 19
C. 20
D. 21
9 The letter of credit is opened on the request of:
A. Importer
B. Exporter
C. Government
D. None of these
10 Import means the purchase of goods and services from foreign countries are called
A. Import trade
B. Export trade
C. Both a and b
D. None of these

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