Certain Agricultural and Mineral Products Can Be Reported at Net

question 166

Short Answer

Certain agricultural and mineral products can be reported at net realizable value under

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Definitions:

CISG

The United Nations Convention on Contracts for the International Sale of Goods, a treaty that establishes a uniform international sales law.

Contracts for the Sale of Goods

Legal agreements pertaining to the transfer of ownership of tangible personal property from a seller to a buyer for payment.

Forum Non Conveniens

A doctrine allowing courts to dismiss a case when another court, or forum, is significantly more appropriate to hear the case.

Exercise Jurisdiction

The act of applying or enforcing legal authority over a particular area, group, or issue.