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International Business 1 Class 11 MCQs Questions with Answers
Question 1.
The degree of mobility of factors of production like labour and capital is relatively more within in _________
(a) Domestic Business
(b) International business
(c) Both Domestic and International business
(d) None of the above
Answer
Answer: (a) Domestic Business
Question 2.
Foreign investment can be of two types
(a) Domestic and International investment
(b) Direct and Portfolio
(c) Licencing and Franchising
(d) Direct and Franchising
Answer
Answer: (b) Direct and Portfolio
Question 3.
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?
(a) Shipping bill
(b) Mate’s receipt
(c) Packaging list
(d) Bill of exchange
Answer
Answer: (a) Shipping bill
Question 4.
Which one of the following modes of entry requires a higher level of risks?
(a) Licensing
(b) Contract manufacturing
(c) Franchising
(d) Joint venture
Answer
Answer: (d) Joint venture
Question 5.
The method of obtaining payment from the importer is:
(a) By getting a bill of exchange
(b) By getting a Letter of Credit
(c) By Foreign Draft
(d) All of the above
Answer
Answer: (d) All of the above
Question 6.
Which of the following documents are not required for obtaining an export license?
(a) IEC number
(b) Registration cum membership certificate
(c) Letter of credit
(d) Bank account number
Answer
Answer: (c) Letter of credit
Question 7.
Which of the following documents is not required in connection with an import transaction?
(a) Certificate of origin
(b) Bill of lading
(c) Shipping bill
(d) Shipment advice
Answer
Answer: (c) Shipping bill
Question 8.
W.T.O is the only organization dealing with the:
(a) Home trade rules
(b) Entrepot trade rules
(c) Global trade rules
(d) None of the above
Answer
Answer: (c) Global trade rules
Question 9.
Import trade procedure starts with
(a) Obtaining quota
(b) Arranging L.C
(c) Trade enquiry
(d) Placing Indent
Answer
Answer: (b) Trade enquiry
Question 10.
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
(a) Franchising
(b) Contract manufacturing
(c) Joint Ventures
(d) Licensing
Answer
Answer: (c) Joint Ventures
Question 11.
Which one of the following is not amongst India’s major trading partners?
(a) Germany
(b) New Zealand
(c) the UK
(d) the USA
Answer
Answer: (b) New Zealand
Question 12.
A receipt issued by the commanding officer of the ship when the cargo is loaded on the ship is known as
(a) Cargo receipt
(b) Mate receipt
(c) Shipping receipt
(d) Charter receipt
Answer
Answer: (b) Mate receipt
Question 13.
Which one of the following is not a document related to fulfilling the customs formalities
(a) Letter of insurance
(b) Shipping bill
(c) Export license
(d) Proforma invoice
Answer
Answer: (d) Proforma invoice
Question 14.
Which one of the following is not a part of export documents?
(a) Commercial invoice
(b) Mate’s receipt
(c) Certificate of origin
(d) Bill of entry
Answer
Answer: (d) Bill of entry
Question 15.
The document containing the guarantee of a bank to honour drafts drawn on it by an exporter is
(a) Letter of hypothecation
(b) Letter of credit
(c) Bill of exchange
(d) Bill of lading
Answer
Answer: (b) Letter of credit
Question 16.
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
(a) Joint venture
(b) Licensing
(c) Contract manufacturing
(d) None of the above
Answer
Answer: (b) Licensing
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