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COMMERCE 101



DOCUMENTS INVOLVED IN TRANSPORTATION

Hey Everyone, Happy New Week. This week shall bring Good News for everyone of us in Jesus name- Amen. so let's get started....

1. Consignment Note: is a document that prove that goods have been delivered. It is sent by the consignor through the carrier to the consignee to sign in evidence that the goods are in order.
2. Certificate of Insurance: is a document which shows that the goods have been insured against risks or loss by the exporter.
3. Airways Bill: is a document used to transport goods by air. It will show the name of the consigner and the consignee, value of the goods and the airport where it is loaded.
4. Manifest: is a document that shows the full list of the goods and cargo that is carried by a ship or aircraft. This document is to be completed by the captain of the ship and approved with the custom authorities showing the particulars of the ship, the cargo carried and the final destination.
5. Shipping Note: is a document containing instructions for transporting the goods.
6. Delivery Note: is a document that showed that the goods has been delivered.
7. Bill of Landing: This gives the holder the right to claim or acquire possession of goods that have been shipped.

Terminologies used in the Transportation Industry
1. Freight- is used for the cost of shipping a particular cargo to a known destination.
2. Character- is the person or form that hives a ship for a specific purpose.
3. Consignment- are goods that are conveyed from one place to another.
4. Consignee- is the person or organisation to whom goods are transported through a carrier.
5. Consignor- is the owner who sends goods to the consignee.
6. Demurrage- is an extra charge or penalty which the charter pays for exceeding the period originally agreed upon, to off-load a ship or for failing to unload a ship within a stipulated time.
QUESTIONS:

1. The price quotation where the buyer uses his own means to collect goods from the producers warehouse is?
a. F.O.B
b. Ex-works
c. F.A.S
d. F.O.R (WAEC 2006 NO 9).

2. Which of the following assesses duties payable on imports and exports?
a. Ports Authority
b. Central Bank
c. Customs and Excise Authority
d. Export Promotional Council (WAEC 2006 NO 21).

3. The Time allowed for unloading and loading a ship is referred to as?
a. demurrage
b. lay days
c. charter party
d. charter by demise (WAEC 2006 NO 25).     
                                                    
4. An outright prohibition on the importation of goods to a country is referred to as?
a. quota
b. tariff
c. devaluation
d. embargo (WAEC 2006 NO 18).

5. The place where dutiable goods are kept until the duties on them are paid is?
a. Customs warehouse
b. public warehouse
c. bonded warehouse
d. the wharf (WAEC 2006 NO 23).

6. The provision of dredging and dry dock facilities at any sea ports is responsibility of?
a. Ports Harbors Authority
b. Customs and Excise Authority
c. National Health Authority
d. National Water and Electricity Authority (WAEC 2006 NO 24).

7. It is safer and quick to transport petrol and gas by?
a. rail
b. pipeline
c. road
d. air (WAEC 2006 NO 35).

8. Which of the following arranges for the conveyance of goods aboard?
a. Exports Promotion Council
b. Customs and Excise Authority
c. Airports Authority
d. Ports Authority (WAEC 2006 NO 47).

9. Demurrage is paid by a vessel for?
a. Overloading
b. Travelling along unplanned route
c. delay at the port
d. not using the services at the wharf (WAEC 2006 NO 33).

10. Which of the following retail outlets is described as selling without shops?
a. Multiple stores
b. Mail order Business
c. Supermarkets
d. Department stores (WAEC 2006 NO 46).

NOTE: ALL THE QUESTIONS IN THIS POST ARE CREDITED TO WEST AFRICA EXAM COUNCIL 2006 PAPERS. THANKS

This brings us to the end of today's session, pls do attempt the questions above, this is one of the changes we have inputted. Hope this was very helpful to you, leave a comment of what you think of this tutorial and of your questions below. Have a Blessed Day and Remember You are Amazing. God Bless.


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