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BAC 211/ACC 324A
Exporting, Importing, and Countertrade
Quiz 7 (copy)
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Started on Sunday, 5 June 2022, 2:41 PM
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State Finished
Completed on Sunday, 5 June 2022, 3:20 PM
Time taken 39 mins 36 secs
Grade 20.00 out of 20.00 (100%)
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Question 1
Which of the following is not an important document in foreign
Complete
trade?
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of 1.00
a draft
a check for the value of goods
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a letter of credit
bill of lading
Question 2
If a draft is made to bearer, payment should be made to
Complete
_____.
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drawer
anyone who presents the draft
acceptor
a bank
Question 3
Forms of countertrade include the following except ___.
Complete
Mark 1.00 out
of 1.00
mutual agreement
counterpurchase
switch trade
simple barter
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Question 4
Which of the following is not true of a letter of credit?
Complete
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Mark 1.00 out
of 1.00
it is a document
issued by a bank
the bank agrees to honor a draft drawn on the importer
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at the request of the exporter
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Question 5
Which of the following is not a form of countertrade?
Complete
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barter
switch trading
counterpurchase
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consignment
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Question 6
Below are steps involved in a typical trade transaction. Which
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step is out of order:
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1.
exporter agrees to ship under a letter of credit
2. exporter ships the product to the importer
3. importer’s bank issues the letter of credit
4. the draft is accepted by the importer’s bank becoming a
bankers’ acceptance.
Question 7
When exporting some common pitfalls include:
Complete
Mark 1.00 out
of 1.00
All of these
failure to print service, sales, and warranty messages in
local languages
failure to use an export management company
failure to consider licensing or joint venture agreements
Question 8
This is also known as a bill of exchange.
Complete
Mark 1.00 out
of 1.00
bill of lading
offset
letter of credit
draft
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Question 9
Complete
Mark 1.00 out
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The use of a specialized third-party trading house in a
countertrade arrangement.
of 1.00
switch trading
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counterpurchase
barter
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offset
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Question 10
Which of the following is the disadvantage of countertrade?
Complete
Mark 1.00 out
of 1.00
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it gives a firm a way to finance an export deal when other
means are not available
it requires the firm to establish an in-house trading
department to handle countertrade deals
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it give a firm a competitive edge over a firm that is
unwilling to enter a countertrade agreement
Question 11
Initially, most firms have no formal structure, but as they grow,
Complete
develop a functional structure.
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of 1.00
Select one:
True
False
Question 12
Complete
Mark 1.00 out
of 1.00
Favored by firms with low degree of diversification and a
domestic structure based on function.
Global matrix structure
Worldwide product divisional structure
Worldwide area structure
Question 13
Formal integrating mechanisms include:
Complete
Mark 1.00 out
of 1.00
Cultural controls
All of these
Output controls
Personal controls
Bureaucratic controls
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Question 14
Which of the following is not part of the organizational
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architecture?
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of 1.00
Organizational culture
Process
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People
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Resources
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Question 15
The elements of the organizational architecture must be
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externally consistent.
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Select one:
True
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False
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Question 16
Complete
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It refers to the actions that managers take to attain the goals of
the firm.
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Vision
Objectives
Mission
Strategy
Question 17
Complete
The value created per unit of product is the sum of the value of
the product and cost of production per unit.
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of 1.00
Select one:
True
False
Question 18
Which of the following is not a primary value creation activity:
Complete
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R&D
Customer service
Human resource
Production
Question 19
Complete
By achieving location economies, firms can lower the costs of
value creation and achieve a low-cost position.
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of 1.00
Select one:
True
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False
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Question 20
It refers to the reductions in unit cost achieved by producing a
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large volume of a product.
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of 1.00
Economies of scale
Efficiency
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Productivity
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Learning curves
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