JAMB Commerce 2011 Objective — Question 15
Question 15 of 49 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2011 Objective paper, with the correct answer and a full explanation.
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The price quoted which includes the cost of insurance, freight and all delivery charges to the importer's warehouse is A. Franco B. Free Alongside Ship C. Free On-Board D. Free on Rail
- A. A. FrancoCorrect
- B. B. Free Alongside Ship
- C. C. Free On-Board
- D. D. Free on Rail
Explanation
Franco means free from all expenses. Under this price, all the possible expenses in transit are to be borne by the seller, and the seller has to supply goods to the factory of the buyer.
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