WAEC Commerce 2019 Objective — Question 1
Question 1 of 50 from the West African Examinations Council (WAEC) Commerce 2019 Objective paper, with the correct answer and a full explanation.
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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.
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