The Ashurst-Sumners Act Makes Transportation of Prison-Made Goods in Interstate

question 56

True/False

The Ashurst-Sumners Act makes transportation of prison-made goods in interstate commerce a federal crime.

---

Definitions:

Bill And Hold Sales

Transactions where revenue is recognized after billing the customer while the seller retains physical possession of the goods.

Shipments

The transportation of goods from one location to another.

Distributors

Entities involved in the process of making products available for consumption by distributing them from producers to end consumers.

Fair Value Option

An accounting approach allowing companies to report certain assets and liabilities at fair market values rather than historical costs.