ASC Definition

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ASC is Accounting Standards Committee or Australian Securities Commission.

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NET WORTH is the difference between Total Liabilities and Total Assets. Minority interest is included here.

FOB POINT OF ORIGIN is where the supplier is responsible for all shipping costs to the point of having the goods loaded unto the vessel for shipment to its destination. The purchaser, from that point forward, is responsible for all further shipping costs to the point of destination, e.g., insurance, transportation, etc.

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