There is no real "correct", as many authors have different ways for doing this. But the "main" inciting incident, the one that sets your MC (Protag) onto a path that leads to the story, normally occurs near the beginning of the story, and is the one that is most likely concluded at the end of the story. There is a relationship in many books between inciting incident and denouement.

That is general. Some inciting incidents have no long-term effects. In Star Wars, it can be said the inciting incident, the one that sets Luke Skywalker on his path, is the death of his aunt and uncle. That is the thing that changes his life and alters what he is doing, setting him on a new path. Does their death come to anything at the end of Return of the Jedi? No, not really.

So, it is the main thing that changes the life direction of your protagonist.

I know that's vague, but that's because a lot of writing advice and techniques are vague.

Sorry.