Correct Answer: B. fixed assets

Explanation

(a) Balance of payment adjustment measures:

(i) Imposition of tariff on imported goods to increase their prices with a view to reducing imports.

(ii) Devaluation of local currency to discourage imports. This reduces the value of the country's currency thus making exports cheaper and imports dearer.

(iii) Establishment of Export Promotion Council with a view to encourage exports.

(iv) Creation of exports free zone where facilities are provided for exporters.

(v) Borrowing from IBRD or IMF (World Bank) to finance present deficit/debit rescheduling.

(vi) Sale of foreign investments and reserves of the country to generate foreign currency to correct present deficit.

(vii) Currency exchange regulation to make it difficult for importers to obtain foreign currency thus restricting imports.

(viii) Imposing restrictions like quota, import licence or outright ban to reduce imports, etc.

(ix) Engagement in counter trade where a country exchanges its goods with imports of other countries.

(x) Encouragement of local production of import substitution goods to reduce import/protection of infant industry.

(xi) Tight monetary and fiscal policy such as reduction in government expenditure, reduction in money supply. Increases in taxes with a view to reducing demand for imports.

(xii) Encouragement of foreign capital inflow into the country for investment and control of repatriation of profits.

(xiii) The government can apply for grants and aids from friendly countries.

(b) Disadvantages of International Trade:

(i) It encourages dumping of goods on countries.

(ii) It creates competition for local manufacturers which could send them out of business.

(iii) It could lead to importation of harmful or dangerous goods.

(iv) It encourages capital flight.

(v) It could lead to balance of payment deficit.

(vi) It could induce local unemployment.

(vii) It could lead to overdependence on foreign goods.

(viii) It could lead to cultural and social alterations. For example importation of clothes and some goods might impact on the life of the people.

Correct Answer: B. creation of utility

Correct Answer: C. proforma invoice

Explanation

A proforma invoice is a preliminary or provisional invoice sent by a seller to the buyer before the actual delivery of goods or services. It provides detailed information about the goods or services to be supplied, including the quantity, description, price, and any terms or conditions of the sale. Unlike a regular invoice, a proforma invoice is not a request for payment but serves as a quotation or estimate that allows the buyer to review the proposed transaction and make payment arrangements before the actual delivery or completion of the order. By sending a proforma invoice, the seller communicates the terms and conditions of the sale to the buyer, including the payment requirements and expectations. It enables the buyer to assess the costs, terms, and other details of the transaction before making a commitment.

Correct Answer: B. take-over bid

Correct Answer: B. brokerage

Correct Answer: D. Offering free samples to customers

Correct Answer: C) Chambers of Commerce

Explanation

A Chamber of Commerce is an association of the principal businesses in a particular area. It is formed by business owners to promote the interests of the business community in that area. The Chamber acts as a voice for the business community and works to improve the economic climate of the area. It provides a forum for businesses to discuss and address common issues, and it also provides networking opportunities for business owners.

Article of Association and Memorandum of Association are terms used in the formation of a company. They are legal documents that outline the rules and regulations governing the company's operations. Chambers of Companies is not a commonly used term and is not related to this question.

In summary, the correct answer to this question is Chambers of Commerce, which is an association of the principal businesses in a particular area that works to promote the interests of the business community and improve the economic climate of the area.

Correct Answer: C. gross profit less expenses

Correct Answer: C. Advice note