Judicial review can best be described as the power of federal courts to
A)abstain from adjudicating major issues and to leave such matters to legislatures
B)take it upon itself to decide issues on constitutional grounds.
C)declare a statue or governmental action unconstitutional and void.
D)take private property for public use.
C
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The unadjusted trial balance and the adjustment data for Porter Business Institute are shown below along with adjusting entry information. What is the impact of the adjusting entries on the balance sheet? Show the calculation for total assets, total liabilities, and equity without the adjustments; show the calculation for total assets, total liabilities, and equity with the adjustments. Which one provides the most accurate presentation of the balance sheet? Porter Business InstituteUnadjusted Trial BalanceDecember 31 (in millions)?Cash…………………………………………. $ 58,000??Accounts receivable…………..………………59,000??Prepaid insurance …………………………...12,000??Equipment
…………………………………….8,000??Accumulated depreciation-equipment ……….. ??$ 2,000Buildings……………………………………….57,500??Accumulated depreciation-buildings…………..??17,500Land………………………………….55,000??Unearned rent…………………………………..??16,000Long-term notes payable……………………….??50,000Common stock……………………….??50,000Retained earnings ……………………………….??65,600Tuition fees earned ……………………….??74,000Training fees earned …………………….??23,400Wages expense ……………………………32,000??Utilities expense ………………………….8,000??Property taxes expense ……………………5,000??Interest expense ……………………………4,000?________Totals ………………………………………..$ 298,500 ?$298,500 Additional information items:a. The Prepaid Insurance account consists of a payment for a 1 year policy. An analysis of the insurance invoice indicates that one half of the policy has expired by the end of the December 31 year-end.b. A cash payment for space sublet for 8 months was received on July 1 and was credited to Unearned Rent.c. Accrued interest expense on the note payable of $1,000 has been incurred but not paid. What will be an ideal response?
"Adapting to the other party's approach" is best used by parties with
A. low familiarity. B. no familiarity. C. moderate familiarity. D. high familiarity.
Under which of the following circumstances should rigid uniformity be used?
a. If the event is a not a simple event. b. If the event is a complex event in which finite uniformity cannot be instituted in a cost-effective manner. c. Both a and b. d. None of the above; rigid uniformity should never by used.
Distinguish between substantive rules and interpretive rules. What is a statement of policy?
What will be an ideal response?