Southern Pacific Co v. Arizona concerned whether Arizona could, for safety considerations, require trains traveling through the state be a shorter length than trains traveling through other states. The Supreme Court justified striking down the Arizona law because:
a. because the law did not concern a legitimate state interest to improve transportation safety b. because Congress had passed legislation dealing with the length of trains
c. because the law conflicted with federal standards
d. because the law interfered with interstate commerce e. none of the other choices
d
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Purchase returns and allowances is subtracted from cost of goods sold to determine net purchases
a. True b. False Indicate whether the statement is true or false
Explain the citation in a case brief
What will be an ideal response?
Steven Wong was an ace financial advisor. He placed millions of dollars on behalf of his clients into certain debentures of Tippett Holdings Ltd
He did not inform his clients that he received hundreds of thousands in commissions from Tippett for obtaining all this investment. On the other hand, all of his clients made money on their Tippett holdings. Can any of his clients sue Wong? A) No. They have not suffered any financial loss B) No. Wong has not given negligent professional advice C) No. Wong has not placed his own interests above those of his clients D) Yes. Wong has committed a breach of fiduciary duty E) Both A and B
For each of the following amounts paid by a purchaser, determine whether the amount is debited to Land, Land Improvements, or Building
Transaction Account Debited Building permits Cost of clearing land and removing unwanted buildings Parking lot lighting Delinquent property taxes Cost to renovate a building to make it ready for use Taxes assessed to transfer ownership (title) of land What will be an ideal response