MCQ Questions For Class 11 Business Studies Chapter 11 International Business

Check the below NCERT MCQ Class 11 Business Studies Chapter 11 International Business with Answers available with PDF free download. MCQ Questions for Class 11 Business Studies  with Answers were prepared based on the latest syllabus and examination pattern issued by CBSE, NCERT and KVS. Our teachers have provided below International Business Class 11 Business Studies  MCQs Questions with answers which will help students to revise and get more marks in exams

International Business Class 11 Business Studies MCQs Questions with Answers

Refer below for MCQ Class 11 Business Studies Chapter 11 International Business with solutions. Solve questions and compare with the answers provided below.

Question. To provide Development Finance on easy terms to the less developed member countries is an objective of
(a) IFC
(b) MIG(a)
(c) IDA
(d) WTO

Question. Persons importing or exporting goods and services are required to have
(a) Import Export Code Number
(b) Export Import Contact Number
(c) Import Export Chat Number
(d) the Import Export Clearance Number

Question. TRIPS stands for
(a) Trade related agreement of individual property rights
(b) Trade related aspects of intellectual property rights
(c) Trade related agreement of independent property rights.
(d) Trade Related Aspects of Intellectual Property Rights

Question. MIGA was established in
(a) April 1989.
(b) August 1999.
(c) Jan 1989.
(d) April 1988

Question. Foreign investment includes
(a) Foreign direct investment.
(b) portfolio investment.
(c) Foreign intellectual property investments.
(d) A and B only

Question. The receipt is given by commanding officer of the ship to the exporter after the cargo is loaded on the ship is known as
(a) Mate’s Receipt
(b) Shipment receipt
(c) Shipping Bill.
(d) Packing receipt.

Question. At the international level which of the following organisation work for accelerating the pace of development and trade amongst the nations
(a) IMF
(b) WTO
(c) Both of the above 
(d) None of the above

Question. Uruguay round results in the establishment of
(a) WTO
(b) GATT
(c) IMF.
(d) WHO.

Question. IFC stands for
(a) international fund corporation
(b) Indian financial corporation
(c) International Finance Corporation
(d) Indian fund Corporation

Question. C&F Agent stands for
(a) Clearing and Freight Agent
(b) Cargo and Freight Agent.
(c) Cargo and Forwarding ,
(d) Clearing and Forwarding Agent

Question. The main document on the basis of which custom office grants permission for the export
(a) Bill of lading.
(b) Shipping bill
(c) Shipment receipt.
(d) Mate”s Receipt

Question. ………………….is 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 specification
(a) contract manufacturing
(b) exporting
(c) licensing and franchising
(d) Joint Ventures

Question. The refund of excise duty is known as
(a) Duty Withdrawn
(b) Duty Drawback
(c) Duty Refund
(d) Duty Reimbursement

Question. …………….. is a document that exporter sends to the importer informing him that the shipment of goods has been made.
(a) Shipment Bill.
(b) Bill Receipt.
(c) Shipment Advice.
(d) Shipment Challan

Question. AoA stands for
(a) Arrangement on Association.
(b) Arrangement on agriculture.
(c) Association of agriculture.
(d) Agreement on agriculture

Question. A document prepared and signed by the master of the ship acknowledging receipt of goods on board is known
(a) Shipment Receipt.
(b) Bill of lading
(c) Packing Receipt.
(d) Mate’s Receipt

Question. Merchandise exports and imports is also known as
(a) trade in services.
(b) trade in goods.
(c) both of the above.
(d) none of the above

Question. Which of the following is not included in WTO Agreement
(a) Agreement forming part of GATT.
(b) Agreement on Textile and Clothing.
(c) General Agreement on Trade in Services.
(d) General Agreement on Textile and Trade

Question. In which of the following modes of entry into international business, a firm is able to exercise full control over its operations in foreign countries
(a) licensing
(b) franchising
(c) contract manufacturing.
(d) wholly owned subsidiaries

Question. MFN stands for
(a) Most Favoured Nations.
(b) Marine favourable Nation.
(c) Multinational Favourable Number.
(d) Multinational freight Number

Question. Which type of document contains a gurantee from the importer bank to the exporter bank?
(a) Letter of credit
(b) Airway bill
(c) Import order
(d) proforma invoice

Question. Having identified the countries and firms that export the product, the importing firm approaches the export firms with the help of? 
(a) Trade enquiry.
(b) Proforma invoice.
(c) Mate’s receipt.
(d) Sight draft.

Question. One amongst the following in not the main objective of World Trade Organization
(a) To improve the standard of living in world economy
(b) To create employment in world economy.
(c) To increase income and effective demand in world economy.
(d) To disintegrate more viable and durable trading system in world economy.

Question. Which of the following was formed for looking after the promotion of free and fair trade among nations?
(a) International Monetary Fund
(b) World Bank
(c) World Trade Organisation
(d) General Agreement for Tariffs and Trade

Question. Which of the following is not a document related to export transaction?
(a) Shipping Bill
(b) Airway Bill
(c) Mate’s Receipt
(d) Bill of Entry

Question. The year of establishment of international financial corporation.
(a) 1945
(b) 1988
(c) 1956
(d) 1966

Question. World Trade Organization was founded on ———
(a) 11 Nov. 2005
(b) 11 Dec. 2005
(c) 11 Jan.2015
(d) 11 Dec 2015

Fill in the blanks:

Question. Goods that are tangible are called ___________ .

Question. Indian institute of Foreign Trade was set up in ___________ year.

Question. Manufacturing and trade beyond the boundaries if one’s own country is known as _________ .

Question. Giving permission for distribution of services in another country under a specific copyright is known as ___________ .

Question. Business transactions taking place within the geographical boundaries of a nation is known as ___________ .

Question. Foreign investment are of ___________ and ___________ types.

Question. The document certifying that the export transaction is over and the payment has been  received is ___________ .

True / False:

Question. Registration with the ECGC is necessary to protect overseas payment from political and  commercial issues.

Question. Packing list is a statement containing the name and place of the port at which goods are to be discharged.

Question. The exporter Rahul appointed a C&F agent of XYZ Ltd. to help him in export procedure, as he had no time for the same and the same is permitted in the export procedure.

Question. One of the pre-requistes for an exporter to obtain an export licence is to have an account in any bank authorised by the RBI.

Question. Headquarters laboratory of Indian Institute of packaging is situated in delhi. 

Question. Indian trade promotion orgnisation was setup in 1st January 1992.

Question. World Trade Organization has a global status similar to that of International Monetary Fund and World Bank. 

Match the following:

Question. Match the features with the documents given below.

A	B
1. Proforma invoice	(a) Obtain an import export code number.
2. Procurement of import license.	(b) Contains details as to the quality, grade, design, size, weight and price of the export product.
3. Procurement of import license.	(c) Specifies dock dues by the Importer.
4. Dock Challan.	(d) Assessment of customs import duty.

Question. Match the documents needed in the international trade with its synonyms given below:

A	B
1. Receipt of order	(a) Export Order
2. Export Contract	(b) Endorsement for delivery
3. Delivery Order	(c) Documentary bill of exchange against acceptance.
	(d) Indent

Question. Match the following documents related to International Trade with their issuing authority-

A	B
1. Mate’s Receipt	(a) Issued by Government
2. Export Invoice	(b) Commander of the ship
3. Certificate of Payment	(c) Seller (Exporter)
4. Certificate of Inspection	(d) Bank

Question. Match the documents given below with the type of information they carry.

A	B
1. Packing List	(a) Quality of goods
2. Mate’	(b) Registration number of vehicle
3. Cart Chit	(c) Nature of goods
4. Certificate of Inspection	(d) Condition of the Cargo

Question. Match the following documents with their issuing authority

A	B
1. Usance Draft	(a) Custom Office
2. Bill of Entry	(b) Importer
3. Bill of Landing	(c) Drawer
4. Indent	(d) Master of Ship

Question. Match the information given below with their relevant documents-

A	B
1. Country in which the goods are produced	(a) Shipment Advice
2. Quality of Goods	(b) Certificate of Origin
3. Description of goods and quantity	(c) Trade Inquiry
4. Written request by the Importer	(d) Certificate of Inspection

Pictorial Questions:

Question. Identify the factors of production:

Question. Identify which one is not a global company:

Question. Fill the factors of production

Question. Identify the apex bank responsible to give permission to open bank account for international business:

Question. State the objectives of WTO-