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The use of Incoterms will eliminate all risks involved in international trade transactions. Is this statement true?
Suggested Answer: D
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A risk of pre-planning an audit is the supplier has time to prepare for it. It's a good thing in that they can get their paperwork in order but the downside is they can overprepare so you don't get a realis-tic representation of what they're doing. One way they can do this is coaching staff in what to say to the auditors.
32 comments · newest first
NA
Natalya
11 months ago
I thought Incoterms were supposed to solve all issues!
RO
Rosenda
11 months ago
They just clarify responsibilities, not eliminate risks.
CA
Candra
12 months ago
Wait, are people really thinking they eliminate all risks?
LE
Leatha
12 months ago
Totally agree, risks are still there!
RI
Rima
1 year ago
No way, they help but don’t cover everything.
WE
Wenona
1 year ago
I’m leaning towards saying they reduce risks, but I’m not confident about the specifics.
KA
Kanisha
1 year ago
I’m not entirely sure, but I feel like Incoterms only cover shipping and delivery aspects, not the quality of goods.
CA
Carole
1 year ago
I think we practiced a question similar to this, and the answer was that they help manage risks but can’t eliminate them entirely.
EV
Eveline
1 year ago
I remember discussing how Incoterms clarify responsibilities, but they definitely don’t eliminate all risks.
BI
Billye
1 year ago
Okay, I got this. Incoterms clarify things like shipping and insurance, but there are still other risks involved in international trade that they don't cover. I'll go with A.
GE
Gertude
1 year ago
I'm pretty confident on this one. Incoterms provide standard terms and responsibilities, but they don't eliminate all risks in international transactions. Option A looks like the best answer.
GL
Glen
1 year ago
Hmm, I'm a bit confused. I thought Incoterms were meant to reduce risks, but this question is asking if they eliminate all risks. I'll have to think this through.
NI
Nicolette
1 year ago
This seems like a tricky question. I'll need to carefully review what Incoterms are and how they work in international trade.
AL
Alishia
1 year ago
I'm a bit confused by the options. Does Cuckoo actually clean malicious files, or is that just a distraction? I'll need to research how Cuckoo works to make sure I understand the implications.
VE
Venita
1 year ago
Ah, this is a good question. I remember discussing this in class - the internal audit charter and proper approval by the right parties is a critical factor in demonstrating independence. I'm leaning towards option C.
ST
Stevie
1 year ago
Incoterms, the ultimate risk-free transaction! Next up, a bridge in Brooklyn for sale.
VA
Valentin
1 year ago
B) No, they will only provide assurance about the quality of goods
ON
Oneida
1 year ago
Incoterms are important, but not risk-free.
LU
Lucina
1 year ago
A) No, they can reduce risks but will not eliminate them
LI
Lina
2 years ago
Eliminating all risks when buying from overseas? Dream on! Option D is just wishful thinking.
FA
Fairy
2 years ago
Ha! If Incoterms eliminated all risks, they'd be too good to be true. Option C is a bit of a stretch.
DE
Denny
1 year ago
Ha! If Incoterms eliminated all risks, they'd be too good to be true.
NI
Nida
1 year ago
B) No, they will only provide assurance about the quality of goods
HE
Herminia
1 year ago
A) No, they can reduce risks but will not eliminate them
CA
Carole
2 years ago
Hmm, I thought Incoterms were just about shipping terms, not quality assurance. Option B is clearly wrong.
RO
Ronny
1 year ago
A) No, they can reduce risks but will not eliminate them
KE
Kenny
1 year ago
C) Yes, they are popular because all risks are avoided
WI
Wilda
2 years ago
A) No, they can reduce risks but will not eliminate them
AL
Alaine
2 years ago
No way, Incoterms may reduce risks but they can't eliminate them all. Option A is the way to go.
BR
Brittni
2 years ago
Yes, I believe they are popular because they help in managing risks effectively.
ER
Erick
2 years ago
I agree, Incoterms can reduce risks but not eliminate them.
HE
Helga
2 years ago
I think the statement is not true.