Tag: import and export procedure

Questions Related to import and export procedure

Franchising is the practice of using another firms _________.

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

  1. workers

  2. property

  3. successful business model

  4. all of the above

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Correct Option: C
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.

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

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

  1. Cash-in-Advance

  2. Letters of Credit

  3. Documentary Collections

  4. Any of the above

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Correct Option: D

___________ 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.

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

  1. Letter of credit

  2. Consignment

  3. Open Account

  4. None of the above

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Correct Option: A
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

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

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

  1. Documentary Collections

  2. Letters of Credit

  3. Cash-in-Advance

  4. Open Account

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Correct Option: B

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

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

  1. Letters of credit

  2. Cash-in-Advance

  3. An open account transaction

  4. None of the above

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Correct Option: C

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

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

  1. Letter of Credit

  2. Documentary Collection

  3. Bill of exchange

  4. Consignment

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Correct Option: B

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

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

  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

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Correct Option: B

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

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

  1. Station

  2. Free On Rail

  3. Cost and Freight

  4. Loco

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Correct Option: A

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

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

  1. Trade Commissioners

  2. Merchant Exporter

  3. Export Houses

  4. Indent Houses

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Correct Option: A

Loco price quotations are rarely used in international markets.

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

  1. True

  2. False

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Correct Option: A