NOTE: only the first character in each element will count, because only one comparison can be made, and hence only one ASCII value taken into consideration. Remember, $asc(a) == $asc(ab).
That's not true, if the first two ascii values are the same, the next two are compared, then the third, etc:
$iif(ab > aa,$true,$false) = $true
If two strings aren't of equal length, but the start of the longest is the same as the shortest, the longer string will be 'larger':
$iif(aa > a,$true,$false) = $true
Ofcourse, if you use $asc() yourself only the first character counts, because $asc only returns a numerical value for the first character and then the comparison is made:
$iif($asc(aa) > $asc(a),$true,$false)
is first converted to
$iif(97 > 97,$true,$false)
and then the comparison is made, resulting in $false