In Erie v. Tompkins, where Tompkins was hit by a New York train in Pennsylvania, the Supreme Court held that federal common law, as first announced in Swift v. Tyson, had to be applied to cases where there was diversity of citizenship, forcing the case into federal court
a. True
b. False
Indicate whether the statement is true or false
False
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Rawhide Outfitters had projected its sales for the first six months of 2012 to be as follows:
Jan. $50,000 April $180,000 Feb. $60,000 May $240,000 Mar. $100,000 June $240,000 Cost of goods sold is 60% of sales. Purchases are made and paid for two months prior to the sale. 40% of sales are collected in the month of the sale, 40% are collected in the month following the sale, and the remaining 20% in the second month following the sale. Total other cash expenses are $40,000/month. The company's cash balance as of March 1st, 2012 is projected to be $40,000, and the company wants to maintain a minimum cash balance of $15,000. Excess cash will be used to retire short-term borrowing (if any exists). The firm has no short-term borrowing as of March 1st, 2012. Assume that the interest rate on short-term borrowing is 1% per month. What was Rawhides' projected loss for March? A) $184,000 B) $84,000 C) $110,000 D) none of the above
Manny, a single taxpayer, earns $65,000 per year in taxable income and an additional $12,000 per year in city of Boston bonds. What is Manny's current marginal tax rate for 2019? (Use tax rate schedule.)
A. 12.00 percent B. 11.40 percent C. 15.63 percent D. 13.19 percent E. None of the choices are correct.
High self-monitors are particularly skilled at delegating tasks.
a. true b. false
On January 1, you bought one April S&P 500 index futures contract at a futures price of 1,420. If, on February 1, the April futures price was 1,430, what would be your profit (loss) if you closed your position (without considering transactions costs)?
A. $2,500 loss B. $10 loss C. $2,500 profit D. $10 profit