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

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The court decision mentioned in the scenario is an example of common law, which is based on judicial decisions that establish legal principles and rules of interpretation that apply in specific cases. The UCC codification, administrative law, and statutory law refer to other sources of law.

The Accounting of Sales and Costs of Many New Technology