CBSE Questions for Class 11 Commerce Business Studies International Business Quiz 2 - MCQExams.com

IEC Number is issued by _____________.
  • Import-Export Licensing Authority
  • Foreign Ministry
  • Minister of Commerce and Industry
  • Chamber of Commerce
_________ is the most important document of export procedure.
  • Bill of lading
  • Bill of Entry
  • Performa Invoice
  • Bill of Exchange
_______________ involves manufacturing and trade beyond the boundaries of one's own country.
  • Internal Trade
  • Wholesale Trade
  • International Business
  • Retail Trade
Which of the following documents are not required for obtaining an export license?
  • IEC number
  • Letter of credit
  • Registration cum membership certificate
  • Bank account number
The document containing the guarantee of a bank to honour drafts drawn on it by an exporter is called as  ________.
  • Letter of Hypothecation
  • Letter of Credit
  • Bill of Lading
  • Bill of Exchange
Which one of the following is not a part of export documents?
  • Commercial invoice
  • Certificate of origin
  • Bill of entry
  • Mates receipt
Which of the following does not form part of duty drawback scheme?
  • Refund of excise duties
  • Refund of customs duties
  • Refund of export duties
  • Refund of income dock charges at the port of shipment
Which one of the following is not a document related to fulfill the customs formalities?
  • Shipping bill
  • Export license
  • Letter of insurance
  • Proforma invoice
A receipt issued by the commanding officer of the ship when the cargo is loaded on the ship is known as ________.
  • shipping receipt
  • mate receipt
  • cargo receipt
  • charter receipt
TRIP is one of the WTO agreements that deal with which of the following?
  • Trade in agriculture
  • Trade in services
  • Trade related investment measures
  • None of the above
Which of the following document is prepared by the exporter and includes details of the cargo in terms of the shipper's name, the number of packages, the shipping bill, port of destination, and name of the vehicle carrying the cargo?
  • Shipping bill
  • Packaging list
  • Mates receipt
  • Bill of exchange
In which of the following modes of entry, does the domestic manufacturer give the right to use intellectual property such as patent and trademark to a manufacturer in a foreign country for a fee?
  • Licensing
  • Contract
  • Joint venture.
  • None of the above
The system of Eximscrips was introduced in ___________.
  • 1980
  • 1985
  • 1991
  • 1996
When two or more firms come together to create a new business entity that is legally separate and distinct from its parents, it is known as _________.
  • Contract manufacturing
  • Franchising
  • Joint ventures
  • Licensing
Which of the following is not an advantage of exporting?
  • Easier way to enter into international markets
  • Comparatively lower risks
  • Limited presence in foreign markets
  • Less investment requirements
Which one of the modes of entry requires higher level of risks?
  • Licensing
  • Franchising
  • Contract manufacturing
  • Joint venture
The import licensing system was simplified with the introduction of ______.
  • LERMS
  • EXIM scrips
  • EPZ
  • EOU
The objective of the World Bank is _____________.
  • to remove the short term disequilibrium is the balance of payments of the member countries
  • to eliminate the long term disequilibrium in the balance of payments of the member of countries
  • to eliminate the medium term disequilibrium in the balance of payments of the member of countries
  • all the above
As equity joint venture is _________.
  • A technological sharing arrangement between private company and Government company
  • A capital sharing arrangement between an MNC and a local company (or even a foreign Government) or another MNC.
  • A capital sharing arrangement between the private company and government company
  • None of these
Outsourcing a part or entire production and concentrating on marketing operations in international business is known as ________.
  • Licensing
  • Franchising
  • Contract manufacturing
  • Joint venture
Which type of Privatisation is common in utility services and transport?
  • Reprivatisation
  • Franchising
  • Contracting
  • Divestiture
Which one of the following modes of entry permits greatest degree of control over overseas operations?
  • Licensing/franchising
  • Wholly owned subsidiary
  • Contract manufacturing
  • Joint venture
The first biennial ministerial meeting of the WTO was held in _____________.
  • Singapore
  • India
  • New York
  • London
In 1995-96, India's imports have increased to ________________.
  • Rs. 1,06,465 crores
  • Rs. 1,22,678  crores
  • Rs. 1,645 crores
  • Rs. 5,795 crores
The World Trade Organisation is the successor to the ____________.
  • UNCTAD
  • ADB
  • IMF
  • GATT
The WTO has ___________.
  • no legal status
  • a legal status
  • a special status
  • none of the above
The first ministerial meeting of WTO was held in _________.
  • 1994
  • 1996
  • 1998
  • 2000
The composition of trade denotes ___________________.
  • the relationship between value of exports and

    value of imports
  • the countries to which commodities are exported and the countries from which commodities are imported
  • the nature of goods that are exported and imported
  • none of above
Main objectives of the EXIM Bank is/are ________________.
  • to encourage project exports
  • to finance Indian joint ventures abroad
  • to deal in foreign exchange
  • all the above
The International Finance Corporation was established in _________.
  • 1944
  • 1952
  • 1956
  • 1962
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