Question # 1

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

Choose an answer

Duty paid

In bond price

Custom duties

Excise duty

The sole tradership is a business organization:

Choose an answer

Modern times

Olden times

A combination of (a) and (b)

All the above

Factor are the:

Choose an answer

Customers of business

Servants of business

Debtors of business

Persons who take responsibility of receiving money from debtors

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:

Choose an answer

Bill of sight

Bill of lading

Bill of entry

Bill of order

Whose role is important in trade

Choose an answer

Trader

Producer

Consumer

All the three

A retailer generally buys goods from the

Choose an answer

Government

Wholesaler

Industrialist

All the above

A charter party is

Choose an answer

A contract to reserve a ship for carrying goods

Application for opening the letter of credit

Letter of indemnity

All the three

Maximum number of members in a co-operative society

Choose an answer

Ten

Twenty

Fifty

None of these

The exporter gets the certificate of origin from:

Choose an answer

Chamber of commerce

Custom officials

Importing bank

Exporting banks

The chamber of commerce and industry is formed for:

Choose an answer

Commerce

Trade

Industrial activities

All the above

What remains among different sections due to office

Choose an answer

Link/contact

Coordination

Both

None of these

The cheapest source of foreign transportation for goods is:

Choose an answer

Railway

Ship

Wagon

Airplane

The wholesaler gives order to manufactures

Choose an answer

In advance

On spot

According to need

None of the above

A person who deals in ready made item is:

Choose an answer

Manufacturer

Worker

Trader

Distributor

Two types of industry:

Choose an answer

Constructive, genetics

Extractive, genetics

Primary, secondary

Constructive, manufacturing

Trade is an activity of buying ans selling of goods for money or other goods are called

Choose an answer

Trade

Home trade

Foreign trade

None of the above

More Classes

Other Links

Principle of Commerce Icom Part 1 English Medium Online Test MCQs With Answers

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer