The CISG

question 43

Multiple Choice

The CISG:

• A) governs all contracts between parties in countries that have ratified it.
• B) applies only to goods bought for personal, family or household uses.
• C) applies to contracts in which the predominant part of the obligation is the supply of labor or other services.
• D) None of these.

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Definitions:

Variable Manufacturing

Costs in manufacturing that vary with the level of production output, such as raw materials and direct labor costs.

Fixed Costs

Costs that remain constant regardless of the amount of goods produced or sold, including expenses like rent, wages, and insurance.

Budgeted Costs

Estimated expenses for a future period, which are prepared for planning and control purposes.

Variable Manufacturing

Costs that vary directly with the level of production output, including direct materials, direct labor, and variable manufacturing overhead.