Government Practice Test – The Electoral Process

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

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Spot market goods are those which are available for _____ 

A. immediate delivery     B. short-term delivery     C. long-term delivery     D. end of year delivery

The document with which a manufacturing enterprise releases stock of raw materials to the factory for production is called ______

A. stock release form     B. goods received note     C. store issues voucher     D. materials release note

The difference between total payments for imports and the receipts from within a given period is referred to as ______

A. balance of payments
B. balance of trade
C. comparative cost advantage
D. comparative advantage

Freight note is a document _______ 

A. used by government to transport goods from one country to another
B. issued by shipping company giving details of charges
C. used for payment for imported goods
D. given by an importer to pay for goods at a future period

Most foreign trade transactions are paid for through the use of _______ 

A. Central Bank cheques
B. bank drafts drawn by commercial banks on their foreign branches
C. irrevocable and confirmed letters of credit
D. letters of credit authenticated by the embassies of the respective countries

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