The accounting of sales and costs of many new technology products has resulted in many ethical and legal controversies. Often, the use life of the new product is difficult to assess and therefore how to allocate sales and costs are debatable. A court decision provides guidelines to address these issues. The court decision is an example of:

Question

Quizplus · Accepted Answer

The court decision is an example of common law, which is based on judicial decisions and precedents rather than legislative action or administrative regulations. UCC codification, administrative law, and statutory law all involve legislative or administrative action rather than judicial decisions.

The Accounting of Sales and Costs of Many New Technology