Which of the following statements is true about managing export-import transactions?
A) The commercial invoice is the basic contract between exporter and shipper.
B) National governments sometimes require exporters to obtain license due to national security policy.
C) Incoterms is the "birth certificate" of the goods being shipped and indicates the country of origin.
D) Export declaration lists a set of universally accepted terms of sale that specify how the buyer and seller share freight and insurance costs.

Question

Quizplus · Accepted Answer

National governments do sometimes require exporters to obtain licenses for national security policy reasons. The commercial invoice is a record of the transaction between the exporter and the importer, while Incoterms are a set of trade terms that define the rights and obligations of the buyer and seller. An export declaration is a document used by customs officials to regulate and control the shipment of goods. None of the statements mention a set of universally accepted terms of sale that specify how the buyer and seller share freight and insurance costs. Therefore, option D is also incorrect.

Which of the Following Statements Is True About Managing Export-Import