Ski Resorts, Inc., wants to add a new run to its facility in a national park on federal land. For this action, an environmental impact statement is
A. prohibited.
B. required.
C. unnecessary.
D. voluntary.
Answer: B
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Which of the following statements regarding contingencies is true?
a. Contingencies that are probable and estimable must be recorded before the outcome of future events. b. Contingent assets, if probable and estimable, are treated in much the same way as contingent liabilities. c. The accounting principle that determines whether a contingent asset is recorded is that of materiality. d. Contingencies that are not estimable should not be disclosed even if probable.
A contract is ________ if the offeror's offer can be accepted only by the performance of an act by the offeree
A) unilateral B) bilateral C) implied-in-law D) executory
Unless properly disclosed, a warranty that is implied that sold or leased goods are fit for the ordinary purpose for which they are sold or leased, as well as other assurances, is known as ________.
A. implied volatility B. an implied cause of action C. an implied assertion D. the implied warranty of merchantability
Clara is a member of the product development team at a company that manufactures sports equipment. During a recent meeting, one of the team members asked, "What level of quality are we building into the camping gear?" Based on this question, Clara and her team are most likely in the ____ phase of new-product development.
A. commercialization B. concept testing C. business analysis D. product development E. test marketing