Which of the following implies that the price quoted includes the cost of insurance and...
Which of the following implies that the price quoted includes the cost of insurance and carriage?
- A) F.O.B
- B) FASC
- C) O.D
- D) C.I.F
Correct Answer: D) C.I.F
Explanation
This question is asking about a term that indicates the price quoted includes the cost of insurance and carriage. Let's go through the options to find the correct answer.Option A is F.O.B. F.O.B stands for Free on Board and it means that the seller is responsible for delivering the goods to the port or point of shipment. However, it does not include the cost of insurance and carriage, so option A is not the correct answer.
Option B is FASC. FASC is not a commonly used term in commerce, so it is unlikely to be the correct answer.
Option C is O.D. O.D stands for On Delivery and it means that the payment is made when the goods are delivered. However, it does not indicate that the price quoted includes the cost of insurance and carriage, so option C is not the correct answer.
Option D is C.I.F. C.I.F stands for Cost, Insurance, and Freight and it means that the price quoted includes the cost of insurance and carriage. This is the correct answer to the question.
Therefore, the correct answer is option D: C.I.F.
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