Question on: JAMB Commerce - 2024
When the price quoted includes all the cost to the actual destination, that is, from the seller's warehouse to the buyer's warehouse, it is called
A
loco price
B
franco
C
carriage paid
D
cash on delivery
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Correct Option: B
The correct answer is "franco" because:
- Franco: Pricing means the seller bears all the costs, including transportation, to the buyer's location.
- Loco price: Refers to the price at the seller's location (e.g., factory or warehouse).
- Carriage paid: Indicates the seller pays for transportation up to a certain point, but not necessarily the final destination.
- Cash on delivery (COD): Is a payment method, not a pricing term that includes all costs to the destination.
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