Cords are described by number of conductors and building wire is by current carrying conductors.
May not make sense in this context but in the larger context when cables can be used for more than power distribution like data and controls it is important.
Yup, cord is different. Look at the jacket of any extension cord.This cord is advertised wrong. It's not 12/3. It's 12/2 w/ground.
Any time you need to stay away from work