Assume that the state of Ohio passed a hazardous waste statute, seeking to protect the general public and workers. The state statute did not violate the Commerce Clause because it imposed no restriction on interstate commerce. Both the state statute and

the federal Occupational Safety and Health Act established job safety standards and specified worker training and employer licensing, but the requirements differed. Discuss which statute(s) Ohio corporations had to obey, and identify the source of the answer.


Article VI of the Constitution provides the answer to this question. The Supremacy Clause states that the Constitution, and federal statutes and treaties, shall be the supreme law of the land. If there is a conflict between federal and state statutes, the federal law preempts the field, meaning that federal law controls the issue. The state law is void. Even in cases where there is no conflict, if Congress demonstrates that it intends to exercise exclusive control over an issue, federal law preempts. Thus, state law controls only when there is no conflicting federal law and Congress has not intended to dominate the issue. In a similar Illinois case discussed in the textbook, the Supreme Court concluded that Congress intended to regulate the issue exclusively. Federal law therefore preempted the field, and local employers were obligated to obey only the federal regulations.

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Which of the following statements regarding debt securities is incorrect?

A) Debt securities include Held-to-Maturity Debt Investments, Trading Debt Investments, and Available-for-Sale Debt Investments. B) When recording the receipt of interest revenue on Trading Debt Investments, Interest Revenue is credited. C) If a Held-to-Maturity Debt Investment is purchased at a discount or premium, the discount/premium must be amortized when the interest revenue is earned. D) All investments in debt securities are categorized as long-term assets.

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Once the products are completed, packaged, and ready for sale, their costs are transferred to the Finished Goods Inventory account

Indicate whether the statement is true or false

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Which quote is most representative of a participative leadership style?

a. “You are all going to be so thrilled when you see what projects that I have set in place for the next few weeks. I went ahead and made a list of benefits that each project will surely create for our company.” b. “I have made quite a few changes to the company’s objectives for next quarter, and I expect that everyone will be prepared and ready to implement all changes by the end of next month with no delay.” c. “Now that I have shared my ideas with you all, I would like to spend a few minutes answering any questions you may have.” d. “Feel free to form your own groups for this project. You are more than welcome to make the final decision as long as you stay within the budget.”

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The analyst is mostly concerned with which of the following during the second screening?

A. Market growth B. Consumer profile C. Banking legislation and regulation D. Trends in inflation, interest rates, exchange rates

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