When the balance of trade is unfavourable which of the following conditions prevails?
- A. Exports exceed imports
- B. Imports exceed exports
- C. Customs duty is high
- D. lnvisible exports exceed visible imports
- E. The value money falls
Which of the following is a declaration by the captain of a ship as to the cargo on board?
- A. Bill of ladlng
- B. Mates receipt
- C. Ships manifest
- D. Bill of sight
- E. Dock warrant
Are fund usually granted for goods imported and later re-exported is called?
- A. commission
- B. discount
- C. customs drawback
- D. dock due
- E. demurrage
Are fund usually granted for goods imported and later re-exported is called?
- A. commission
- B. discount
- C. customs drawback
- D. dock due
- E. demurrage
The best method of making payment to an overseas supplier is by/
- A. bankdraft
- B. bill of exchange
- C. travellers cheque
- D. letter of credit
- E. certified cheque
The best method of making payment to an overseas supplier is by/
- A. bankdraft
- B. bill of exchange
- C. travellers cheque
- D. letter of credit
- E. certified cheque
Which of the following is used to ascertain the correct value of imports for purposes of assessing customs duty’
- A. Certificate of origin
- B. Open-indent
- C. Bill of Lading
- D. Ships manifest
- E. Bill of entry
A trade in which many countries exchange goods and services is called?
- A. bilateral trade
- B. entrepot trade
- C. economic union
- D. multilateral trade
- E. counter trade
Which of the following is quoted when the buyer is responsible for the cost of loading the goods from the seller’s warehouse up to his own warehouse?
- A. LOCO
- B. F.O. R
- C. F.A.S
- D. C.I.F
- E. C.F
Which of the following is classified as invisible item in_the balance of payments?
- A. . Export of goods
- B. import of machinery
- C. 1 Gifts
- D. . Sale of assets
- E. Salaries of expatriates
Which of the following is classified as invisible item in_the balance of payments?
- A. . Export of goods
- B. import of machinery
- C. 1 Gifts
- D. . Sale of assets
- E. Salaries of expatriates
Del-credere commission is an?
- A. allowance paid to a supplier
- B. extra allowance paid for guaranteeing recovery of debts
- C. allowance paid to all commission agents
- D. 'allowance paid bythe agent
- E. allowances to ensure delivery of goods by commission agent
Del-credere commission is an?
- A. allowance paid to a supplier
- B. extra allowance paid for guaranteeing recovery of debts
- C. allowance paid to all commission agents
- D. 'allowance paid bythe agent
- E. allowances to ensure delivery of goods by commission agent
Goods are usually classified into?
- A. saleable and nonisaleable good
- B. inferior and superior goods
- C. luxurious and essential goods
- D. producer and consumer goods
- E. home made and foreign made goods
Goods are usually classified into?
- A. saleable and nonisaleable good
- B. inferior and superior goods
- C. luxurious and essential goods
- D. producer and consumer goods
- E. home made and foreign made goods
Land as a factor of production comprises?
- A. all resources provided by nature
- B. the earth surface only
- C. land surface and vegetation
- D. efforts to exploit the earth
- E. the oceans and rivers only
All activities involved in the distribution and exchange of goods and services are referred to as?
- A. Trade
- B. Market survey
- C. Advertising
- D. Commerce
- E. Sales promotion
The total indebtedness of a business is the same as its
- A. liabilities
- B. liquid capital
- C. solvency
- D. capital employed
- E. working capital
The total indebtedness of a business is the same as its
- A. liabilities
- B. liquid capital
- C. solvency
- D. capital employed
- E. working capital
A public limited company has the rights and duties of an individual because it?
- A. has a board of directors
- B. has a trading certificate
- C. has corporate status'
- D. has a memorandum of association
- E. is so stated in articles of association
A public limited company has the rights and duties of an individual because it?
- A. has a board of directors
- B. has a trading certificate
- C. has corporate status'
- D. has a memorandum of association
- E. is so stated in articles of association