World Trade Organization known as WTO is a specialized organization of United Nations. The foundation of WTO was developed in 8th GATT (General Agreement on Trade and Tariffs) in Uruguay in 1994. WTO is an international level organization .....

SAFTA means South Asian Free Trade Area. It is a new business strategy developed during 10th SAARC Summit held in Kathmandu. SAFTA is a mutual agreement made by SAARC countries to promote the mutual trade and enhance economic cooperation by ensuring .....

The main objective of SAFTA is to promote fair competition in trade in SAARC countries to ensure their equitable benefits for economic .....

The major functions of SAFTA are as follows: To establish a free trade area in South Asia through the elimination of tariffs To form and implement the rules of origin to ensure that the product is manufactured by the country which is desirous to .....

SAFTA is a mutual agreement made by SAARC countries to promote the mutual trade and enhance economic cooperation by ensuring the free flow of goods and services among member .....

Nepal became the member of WTO on 23rd April 2004 .....

GATT stands for General Agreement on Trade and .....

WTO aims to develop trade rules, extend trade and solve trade problems among member countries. It works to main a fair and healthy competition among the member nations in their trade .....

World Trade Organization was established on 1st January .....

World Trade Organization is an international level organization established to manage, regulate and facilitate the global trade by maintaining trade discipline among member .....

The following are the main functions of WTO: To administer and implement the trade agreements To act as a forum for multilateral trade negotiations To seek to resolve trade disputes To oversee national trade policies To co-operate with other .....

The full form of SAFTA is South Asian Free Trade .....

The full form of WTO is World trade .....

Invoice is a bill or document issued by the seller or exporter to the buyer or importer mentioning the details of goods delivered. It is the statement of goods sold which is prepared by the seller or exporter stating the particulars of goods .....

C and F invoice stands for cost and freight invoice. It is the invoice issued at that time when it is agreed to sell goods by bearing only the cost price and freight charges of .....

Franco invoice is the invoice issued at that time when it is agreed to sell goods exempting all other charges effects up to the godown of an importer, except the price of .....

The act of buying and selling of goods and services between the persons or parties of two or more than different countries is called foreign trade. Following are the three types of foreign trade: Export Trade:The act of selling or supplying of the .....

The following are the main documents of foreign trade: Enquiry letter: It is the first step in which the importer writes and sends a letter of enquiry to the exporter, asking about the quality, quantity, price and other conditions of trade like .....

C.I.F. invoice stands for cost, insurance, and freight invoice. It is the invoice issued at that time when it is agreed to sell goods by bearing all the other charges along with cost price of goods by the importer .....

The invoice includes the following information: The name and address of both seller and buyer The date of dispatching the goods The invoice number and order number Description, quantity, rate and amount of goods supplied Trade discount allowed .....

In the process of buying and selling, some documents are created and exchanged between the buyer and seller. These documents support the trade legally. These serve as evidences. The following are the main documents used in home trade: - Enquiry .....

There are certain steps which are followed in conducting trade. The step begins with making inquiry and ends with paying the amount of goods purchased. These steps are followed one after another serially. These are also known as methods of trade .....

Invoice is a bill or document issued by the seller or exporter to the buyer or importer mentioning the details of goods delivered. It is the statement of goods sold which is prepared by the seller or exporter stating the particulars of goods .....

A document used by the shipping company given to the exporter stating the type, quantity and condition of goods received for the carriage to a definite destination is called a bill of .....

The foreign trade exists because all types of goods necessary for human beings cannot be produced by a single country due to the lack of raw materials, skilled manpower, capital and .....

The trade which is carried on between two or more countries is called foreign trade. It is the international trade in which the payment is made in foreign .....

Tradeis the process of exchanging goods and services for money. It includes the act of supplying raw materials to the producers and finished goods to the consumers with the view to earn profit. There are certain steps which are followed in .....

Trade is the core of the business. It helps to continue production and distribution of goods and services. It directs the goods from one place of consumption through the ownership transfer. According to A.N. Agrawala,“Trade refers to the sale, .....

The act of buying and selling of goods and services between the persons or parties of the same country with the motive of earning profit is known as home trade. Following are the two types of home trade: Wholesale Trade:The act of buying and selling .....

The trade which is carried on within a country is called home trade. It is an internal trade in which goods are bought and sold within the boundaries of a .....

Any four procedures of trade are as follows: Enquiry Reply Order Acknowledgement .....

Trade is the process of exchanging goods and services for money. It includes the act of supplying raw materials to the producers and finished goods to the consumers with the view to earn profit. The person who engages in the job of buying and .....

Trade refers to the act of buying and selling. It is the process of exchanging goods and services for .....

While preparing bank reconciliation statement, the following procedures should be followed: - State the balance as per bank statementThe balance shown by the bank statement is recorded on the amount column at first. Add the in-transit .....

The following are the main causes of disagreement between balances shown by bank cash book and bank statement Cheques and drafts deposited or paid in but not yet collected and credited by the bank. Cheques issued but not yet presented in the bank .....

The following are the main objectives of bank reconciliation statement: To report the balances of the bank statement and the bank cash book on a given date. To report the reasons of differences in the balances between the bank statement and bank .....

Bank reconciliation statement refers to the statement prepared by operating level office to reconcile the balance of bank cash book or pass book. It is known as AGF No. .....

Statement of security depositis is also one of the form of the monthly statement designed to submit the statement to the Office of Treasury and Comptroller about the security deposit taken from and refunded to the contractors who are involved in .....

Statement of Security Deposit is also one of the form of the monthly statement designed to submit the statement to the Office of Treasury and Comptroller about the security deposit taken from and refunded to the contractors who are involved in .....

Some operating level offices are involved in collection of government revenue such as Tax Office, Custom Office, VAT Office etc. These offices prepare and submit the statement of total collection of revenue during the month to the central level .....

The following are the main objectives of Statement of Outstanding Advance: To report regarding the parties and their uncleared amount of advance on a given date. To report the reasons of not clearing the advance. To keep effective control on advance .....

The monthly statement which discloses the information of unclear advance is called statement of outstanding advance. It provides information about an unclear amount of advance, the name of party receiving advance and reasons for unclearing advance. .....

The monthly statement which discloses the information of unclear advance is called statement of outstanding .....

Government of Nepal AGF No. 13 District Education office Statement of Expenditure 2072 Year Bhadra month Expenditure of the current month Release upto the end of current month BH No. Budget Heads Annual appropriation of .....

The statement of expenditure is prepared as per the format of Auditor General Form No. 13. It comprises two parts, which are: Part which shows the position of budget Part which shows the position of fund Part showing the Position of Budget The .....

The trading account is prepared by following certain procedures. It is prepared in the form of the ledger and hence it contains two sides: Debit and Credit. While placing the items in the trading account, opening stock, purchases, purchase related .....

The following are the items included in credit side of trading account: Sales and sales returnSales includes cash sales as well as credit sales of goods. The net sale (sales less sales return) is shown in the credit side of the trading account. .....

Any two objectives for preparingthe Statement of Expenditure are: To provide necessary information to the central level office for controlling budget expenditure. To provide information to the Office of the Treasury and Comptroller ffor making .....

Any two objectives for preparing the Statement of Expenditure are: To provide necessary information to the central level office for controlling budget expenditure. To provide information to the Office of the Treasury and Comptroller for making .....

The main objectives of statement of expenditure are as follows: - To evaluate the progress of operating level offices. To provide necessary information to the central level office for controlling budget expenditure. To provide information to the .....