FOB Is

question 2

Multiple Choice

FOB is

• A) Free On Board.
• B) an Incoterm that can be used for any merchandise.
• C) an Incoterm specifically designed for ocean transportation.
• D) All of the above
• E) None of the above.

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Definitions:

Merchandise

Goods that are bought and sold in commerce, particularly those related to retail trade.

Services

Intangible products that are consumed at the point of sale and do not result in ownership of physical goods.

Net Exports

The balance of a nation's trade, measured by subtracting its imports from its exports of goods and services.

Depreciation

The process of allocating the cost of a tangible or physical asset over its useful life, reflecting the decrease in value of an asset over time due to use, wear and tear, or obsolescence.