WAEC Commerce 2014 Theory — Question 1
Question 1 of 50 from the West African Examinations Council (WAEC) Commerce 2014 Theory paper, with the correct answer and a full explanation.
Advertisement
A price quotation which includes all the expenses involved in loading the goods into a ship is known as
- A. Free on Board (FOB)Correct
- B. Free Alongside Ship (FAS)
- C. Cost, Insurance and Freight (CIF)
- D. Ex-ship
Explanation
FOB means free on board; the seller bears all costs until the goods are put on the ship, including loading expenses.
Advertisement
Sign up free to unlock
- Score tracking
- Practice history
- Saved questions
- Progress dashboard
- Personalized sessions
- Weak-topic breakdown
…and/or go further with premium services and No Ads.