Commerce Practice Tests – Home and Foreign Trade (Questions with Answers and Explanations)

Hello and Welcome to Commerce Practice Tests – Home and Foreign Trade

  1. You are to attempt 5 random objectives questions ONLY.
  2. Supply Your Full Name and Location in the text box below and begin immediately.
  3. You can attempt as many times as possible

Excise duties are paid on goods that are _____ 

A. imported into the country
B. manufactured within the country
C. exported to other countries
D. kept in bonded warehouses

In foreign trade, document of title is known as ______ 

A. bill of lading     B. bill at sight     C. certificate of origin     D. declaration

The document issued by the seller which gives details of the goods he sells is known as _____ 

A. catalogue     B. tender    C. price list     D. invoice.

The overriding advantage of home trade over foreign trade is ______ 

A. accessibility of seller to buyer
B. absence of many documents
C. ease in language of transaction
D. ease in form of payment

The main aim of selling directly to consumers by manufacturers is to _____ 

A. discourage the activities of middlemen
B. make contact with consumers
C. eliminate transportation cost
D. maximize the profit margin



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