ASC Content Is Organized

question 2

Multiple Choice

ASC content is organized

• A)alphabetically by topic.
• B)in chronological order based on the issue date of the major pronouncement on which the content is based.
• C)without regard to the original standard from which the content was derived.
• D)in the manner prescribed by the IASB.

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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.