CHAPTER 12- INTERNATIONAL BUSINESS (CLASS 11) CBSE (MCQ)

     CHAPTER 12 INTERNATIONAL BUSINESS 

1. Contract manufacturing refers to a type of international business where a firm enters into a contract with one or a few local manufacturers in foreign countries to get certain components or goods produced as per its specifications. Contract manufacturing, also known as -----------

a) Outsourcing
b) Deployment
c) Agreement
d) Rent out



2. Licensing is a contractual arrangement in which one firm grants access to its patents, trade secrets or technology to another firm in a foreign country for a fee called ------------

a) Royalty
b) Commission
c) Emolument
d) Tariff

3. ------------------------- is used in connection with production and marketing of goods, the term franchising applies to services.
a) Contracting
b) Leasing
c) Licensing
d) Renting

4. ---------------------- is a sellers’ bill for merchandise and contains information about goods such as quantity, total value, number of packages, marks on packing, port of destination, name of ship, bill of lading number, terms of delivery and payments, etc. 

a) shipping bill
b) bill of sight
c) commercial bill
d) export invoice

5. This is a certificate which specifies the country in which the goods are being produced. The goods are allowed to be brought into the importing country if these are not originating from the banned countries .

a) Export/Import certificate
b) International trade certification.
c) Transaction certificate
d) Certificate of Origin.

6. --------------------- is a document wherein a shipping company gives its official receipt of the goods put on board its vessel and at the same time gives an undertaking to carry them to the port of destination. It is also a document of title to the goods and as such is freely transferable by the endorsement and delivery.

a) Shipping bill
b) Packing list
c) Bill of lading
d) Shipping order

7. After obtaining the import licence, the importer places an import order or---------- with the exporter for supply of the specified products.

a) Product list
b) Packaging list
c) Process procedure
d) Indent

8. The acceptance of bill of exchange for the purpose of getting delivery of the documents is known as -----------------------

a) Document acceptance
b) Documentation fulfilled.
c) Documents ready note
d) Retirement of import documents.

9. -------------------- is a document that contains the details of the imported goods. It is a document on the basis of which unloading of cargo takes place.

a) Import bill
b) Shipping bill
c) Bill of lading
d) Import general manifest.

10.  The importer  fills in a form known as --------------- for assessment of customs import duty. 

        a) Bill of entry
        b) Shipping bill
        c) Mate’s receipt
        d) Commercial bill form