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Direction: Read the following text and answer the questions that follow.
Paras Manek is a successful businessman who is engaged in manufacturing auto spare parts. The products manufactured by his business enterprise Paras Manek Ltd. are sold not only in India, but also exported to various countries such as Singapore, Switzerland, China, North Korea, etc. Trudy Ltd., a Russian company wants to import auto spare parts from Paras Manek Ltd. Paras Manek Ltd. has received an enquiry regarding the goods and trade. Paras Manek Ltd. has replied to it in the form of a quotation. Finding it favourable, Trudy Ltd. has placed an order containing description of goods, price and other instructions, etc. But before exporting the goods it has to fulfill certain legal formalities like procuring export license and preparing the documents related to goods, shipment, and payment.
Q. “Paras Manek Ltd. has replied to it in the form of a quotation.” Identify the document stated here.
  • a)
    Proforma Invoice
  • b)
    Indent
  • c)
    Letter of Credit
  • d)
    Enquiry
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Direction: Read the following text and answer the questions that foll...
Proforma invoices are sent to buyers ahead of a shipment or delivery of goods or services. Most pro forma invoices provide the buyer with a precise sale price. A pro forma invoice requires only enough information to allow customs to determine the duties needed from a general examination of the included goods.
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Most Upvoted Answer
Direction: Read the following text and answer the questions that foll...


Explanation:

Quotation:
- A quotation is a document sent by a seller to a potential buyer, providing the details of the products or services being offered, including prices, specifications, and terms of sale.
- In the context of the text, Paras Manek Ltd. replied to the enquiry from Trudy Ltd. by sending a quotation detailing the auto spare parts they can provide, along with the prices and other relevant information.

Proforma Invoice:
- A proforma invoice is a preliminary bill of sale sent to buyers in advance of a shipment or delivery of goods.
- It is not a legally binding document, but it provides a buyer with an estimate of the cost of goods or services.
- In this case, the document referred to in the text as a "quotation" is likely a proforma invoice, as it outlines the prices and terms of the potential transaction between Paras Manek Ltd. and Trudy Ltd.
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Direction: Read the following text and answer the questions that follow.Paras Manek is a successful businessman who is engaged in manufacturing auto spare parts. The products manufactured by his business enterprise Paras Manek Ltd. are sold not only in India, but also exported to various countries such as Singapore, Switzerland, China, North Korea, etc. Trudy Ltd., a Russian company wants to import auto spare parts from Paras Manek Ltd. Paras Manek Ltd. has received an enquiry regarding the goods and trade. Paras Manek Ltd. has replied to it in the form of a quotation. Finding it favourable, Trudy Ltd. has placed an order containing description of goods, price and other instructions, etc. But before exporting the goods it has to fulfill certain legal formalities like procuring export license and preparing the documents related to goods, shipment, and payment.Q. “Paras Manek Ltd. has replied to it in the form of a quotation.” Identify the document stated here.a)Proforma Invoiceb)Indentc)Letter of Creditd)EnquiryCorrect answer is option 'A'. Can you explain this answer?
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Direction: Read the following text and answer the questions that follow.Paras Manek is a successful businessman who is engaged in manufacturing auto spare parts. The products manufactured by his business enterprise Paras Manek Ltd. are sold not only in India, but also exported to various countries such as Singapore, Switzerland, China, North Korea, etc. Trudy Ltd., a Russian company wants to import auto spare parts from Paras Manek Ltd. Paras Manek Ltd. has received an enquiry regarding the goods and trade. Paras Manek Ltd. has replied to it in the form of a quotation. Finding it favourable, Trudy Ltd. has placed an order containing description of goods, price and other instructions, etc. But before exporting the goods it has to fulfill certain legal formalities like procuring export license and preparing the documents related to goods, shipment, and payment.Q. “Paras Manek Ltd. has replied to it in the form of a quotation.” Identify the document stated here.a)Proforma Invoiceb)Indentc)Letter of Creditd)EnquiryCorrect answer is option 'A'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Direction: Read the following text and answer the questions that follow.Paras Manek is a successful businessman who is engaged in manufacturing auto spare parts. The products manufactured by his business enterprise Paras Manek Ltd. are sold not only in India, but also exported to various countries such as Singapore, Switzerland, China, North Korea, etc. Trudy Ltd., a Russian company wants to import auto spare parts from Paras Manek Ltd. Paras Manek Ltd. has received an enquiry regarding the goods and trade. Paras Manek Ltd. has replied to it in the form of a quotation. Finding it favourable, Trudy Ltd. has placed an order containing description of goods, price and other instructions, etc. But before exporting the goods it has to fulfill certain legal formalities like procuring export license and preparing the documents related to goods, shipment, and payment.Q. “Paras Manek Ltd. has replied to it in the form of a quotation.” Identify the document stated here.a)Proforma Invoiceb)Indentc)Letter of Creditd)EnquiryCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Direction: Read the following text and answer the questions that follow.Paras Manek is a successful businessman who is engaged in manufacturing auto spare parts. The products manufactured by his business enterprise Paras Manek Ltd. are sold not only in India, but also exported to various countries such as Singapore, Switzerland, China, North Korea, etc. Trudy Ltd., a Russian company wants to import auto spare parts from Paras Manek Ltd. Paras Manek Ltd. has received an enquiry regarding the goods and trade. Paras Manek Ltd. has replied to it in the form of a quotation. Finding it favourable, Trudy Ltd. has placed an order containing description of goods, price and other instructions, etc. But before exporting the goods it has to fulfill certain legal formalities like procuring export license and preparing the documents related to goods, shipment, and payment.Q. “Paras Manek Ltd. has replied to it in the form of a quotation.” Identify the document stated here.a)Proforma Invoiceb)Indentc)Letter of Creditd)EnquiryCorrect answer is option 'A'. Can you explain this answer?.
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Can you explain this answer?, a detailed solution for Direction: Read the following text and answer the questions that follow.Paras Manek is a successful businessman who is engaged in manufacturing auto spare parts. The products manufactured by his business enterprise Paras Manek Ltd. are sold not only in India, but also exported to various countries such as Singapore, Switzerland, China, North Korea, etc. Trudy Ltd., a Russian company wants to import auto spare parts from Paras Manek Ltd. Paras Manek Ltd. has received an enquiry regarding the goods and trade. Paras Manek Ltd. has replied to it in the form of a quotation. Finding it favourable, Trudy Ltd. has placed an order containing description of goods, price and other instructions, etc. But before exporting the goods it has to fulfill certain legal formalities like procuring export license and preparing the documents related to goods, shipment, and payment.Q. “Paras Manek Ltd. has replied to it in the form of a quotation.” Identify the document stated here.a)Proforma Invoiceb)Indentc)Letter of Creditd)EnquiryCorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of Direction: Read the following text and answer the questions that follow.Paras Manek is a successful businessman who is engaged in manufacturing auto spare parts. The products manufactured by his business enterprise Paras Manek Ltd. are sold not only in India, but also exported to various countries such as Singapore, Switzerland, China, North Korea, etc. Trudy Ltd., a Russian company wants to import auto spare parts from Paras Manek Ltd. 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