Business Studies MCQ Quiz Hub

1. TRIP is one of the WTO agreements that deal with
Trade in agriculture
Trade in services
 Trade related investment measures
None of these

2. The document containing the guarantee of a bank to honour drafts drawn on it by an exporter is
 Letter of hypothetication
Letter of credit
Bill of lading
Bill of exchange

3. 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

4. Which one of the following is not a document related to fulfill the customs formalities
Shipping bill
Export license
Letter of insurance
Proforma invoice

5. Which of the following documents is not required in connection with an import transaction?
Bill of lading
Shipping bill
Certificate of origin
Shipment advice

6. SMEs stands for:
Small and Medium Entrepreneurs
Small Management of Enterprises
Small and Medium-sized Enterprises.
Societies for Managing Exports

7. MNC Stands for
Multi-National Cooperation
Multi-National Corporation
Multi-National Company
Multi-National Collaboration

8. IPR stands for
Intellectual property rights
International property rights
Internal promotion rights
Interior promotional rights

9. WTO stands for
World technology association
World time organization
World trade organization
World tourism organization

10. …..is only a legal agreement and it is not an institution; but ….. is a permanent institution.
GATT; WTO
WTO; GATT
WTO; IMF
 IMF; GATT

11. …………corporation produces in the home country or in a single country and focuses on marketing these products globally or vice a versa.
Global
International
Transnational
None of the above

12. Key controllable factors in global marketing are:
Government policy and legislation
social and technical changes
marketing activities and plans
all of the above

13. Comparative Cost Trade Theory is given by
Adam Smith
David Ricardo
Gottfried Haberler
Heckscher Ohlin

14. Globalization refers to:
Lower incomes worldwide
Less foreign trade and investment
Global warming and their effects
 A more integrated and interdependent world

15. Capitalistic; communistic and Mixed are the types of
Economic System
Social System
Cultural Attitudes
Political System

16. The theory of comparative cost advantage is given by
David Ricardo
Adam Smith
 F W Taussig
Ohlin and Hecksher

17. The Theory of Absolute Cost Advantage is given by
David Ricardo
Adam Smith
 F W Taylor
Ohlin and Heckscher

18. Subsidiaries consider the regional environment for policy / Strategy formulation is known as
Polycentric Approach
Regiocentric Approach
Ethnocentric Approach
Geocentric Approach

19. Ultimately ………………was replaced by the …………….on 1st Jan 1995
GATS; WTO
WTO; GATT
GATT; WTO
IMF; GATT

20. The first phase of globalization started around 1870 and ended with …..
World War I
World War II
The Establishment of GATT
In 1913 when GDP was High

21. Which of the following does not belong to the World Bank group?
IBRD
 IDA
MIGA
IMF

22. 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; name of the vehicle carrying the cargo?
Shipping bill
Packaging list
Mate’s receipt
Bill of exchange

23. Which one of the following is not a part of export documents?
Commercial invoice
 Certificate of origin
Bill of entry
Mate’s receipt

24. Which of the following do 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

25. 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