Examlex
Gains on exchanges of assets when the exchange has commercial substance are recognized under both IFRS and U.S. GAAP.
Basic Duty
An essential or fundamental obligation required by law, contract, or ethical considerations.
Usage of Trade
Established customs and practices in a particular industry or market that are widely accepted and that parties to a contract are presumed to follow.
Customs
The official department that oversees the importation and exportation of goods in and out of a country, implementing national regulations and duties.
Practices
refers to habitual actions or procedures followed by individuals or organizations in a particular field or profession.
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