Which of the following implies that the price quoted includes the cost of insurance and carriage?

Assessment: WAEC SSCE - Commerce - 1999 (Objective) Subject: Commerce

Question 1 Report

Which of the following implies that the price quoted includes the cost of insurance and carriage?
Answer Details
The option that implies that the price quoted includes the cost of insurance and carriage is "C.I.F." CIF stands for "Cost, Insurance, and Freight." This means that the seller is responsible for the cost of the goods, the freight charges, and the insurance until the goods arrive at the port of destination. Therefore, the price quoted includes all of these costs.
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