Under the Outer Space Treaty, a Moon, a Planet, an Asteroid

question 20

Multiple Choice

Under the Outer Space Treaty, a moon, a planet, an asteroid, or any other celestial body is subject to the appropriation of

• A)the first nation to explore it.
• B)the first nation to exploit it.
• C)the first nation to claim title to it.
• D)no single nation.

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Definitions:

Inventory Account

An asset account on the balance sheet that reports the value of a company's inventory, which includes goods that are in the process of being produced for sale and finished goods.

Perpetual Inventory System

A method of continuously tracking inventory levels, costs, and sales in real time, reducing the need for physical inventories.

Purchases Account

An account used in an accounting system to record the purchase of goods or services that a business intends to resell.

FOB Destination

In this shipping term, the seller retains the risk of loss until the goods reach the buyer's location.