52.Incoterms are divided into two basic categories-
A)open account and L/C.
B)general and water transport terms.
C)ship and ground transport.
D)export and domestic shipments.
E)risk and nonrisk terms of sale (buyer's perspective).

Question

Quizplus · Accepted Answer

Incoterms are divided into 11 terms, which are classified into two categories: general terms and water transport terms. These categories are based on the method of transportation used in the shipment. The general terms are used for all modes of transportation, including water, air, and ground transportation, while the water transport terms are specifically designed for shipments made by water transport. Therefore, option B is the correct categorization of Incoterms. The other options (A, C, D, and E) do not accurately represent the categories of Incoterms.

52.Incoterms Are Divided into Two Basic Categories-