Under the Convention on Contracts for the International Sale of Goods

question 1

Multiple Choice

Under the Convention on Contracts for the International Sale of Goods (CISG) ,an offer becomes effective when

• A) the offeror sends it.
• B) it reaches the offeree.
• C) the offeree reads it.
• D) the offeree replies.

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Definitions:

Quarterly Inventories

The process of counting and valuing all assets, typically merchandise or supplies, that a business holds, conducted every three months.

Beginning Inventory

The economic worth of goods set for sale at the initiation of a financial term.

Compound Interest

Interest computed by performing the simple interest formula periodically during the term of the investment.

Future Value

The worth of a current asset on a future date, calculated by estimating its growth rate over a specific period.