According to the priority of law in the United States, which of the following statements is true?
A) State regulations take precedence over state statutes.
B) Valid state laws take precedence over any conflicting federal laws.
C) Valid state laws take precedence over local laws.
D) State laws take precedence over the U.S. Constitution within that state.
C
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All of the following statements are true except:
a. U.S. GAAP and IFRS define fair value as "the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.". b. The fair value of an asset is an opportunity cost in the sense that fair value reflects an amount that the firm could receive if it sold the asset today. c. Current replacement cost is often used in U.S. GAAP to measure inventories whose usefulness has declined below acquisition cost. d. Net realizable value is similar, but not identical, to fair value. e. Net realizable value is not allowed by IFRS.
Which of the following is NOT one of the advantages to incremental profits of a loyal customer?
a. Profit from increased purchases. b. Profit from decreased advertising. c. Profit from reduced operating costs. d. Profit from referrals to other customers. e. Profit from price premiums.
The recognition of the need for organizations to improve the state of people, the planet, and profit simultaneously if they are to achieve sustainable, long-term growth is referred to as
A. sustainability. B. the triple-bottom line. C. social responsibility. D. social entrepreneurship. E. the marketing concept.
Trade selling requires that salespeople recognize potential buyers' needs and give them necessary information.
Answer the following statement true (T) or false (F)