JAMB Commerce 2023 Objective — Question 2

Question 2 of 40 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2023 Objective paper, with the correct answer and a full explanation.

FOB means that the A.

A. seller bears the risk.
B. buyer bears the risk.Correct
C. both the buyer and seller bear the risk.
D. no risk involved.

Explanation

FOB means free on board, it is a statement to show that if goods are loaded on the ship the risk is transferred from the seller to the buyer.

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