When must an environmental impact statement be prepared and what must it discuss?
What will be an ideal response?
?The National Environmental Policy Act of 1969 (NEPA) requires all federal agencies to prepare an environmental impact statement (EIS) for every major federal action significantly affecting the quality of the human environment.An agency need not prepare an EIS for aparticular proposal if it finds, on the basis of a shorter environmental assessment (EA), that the action will not have a significant impact on the environment. ?An EIS must discuss (1) environmental consequences of the proposed action; (2) available alternatives; (3) direct and indirect effects; (4) energy requirements; (5) impact on urban quality, historic, and cultural resources; and (6) the means to mitigate adverse environmental impacts. Once a draft report is ready, the federal agency must hold a hearing to allow for outside comments.
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Various types of ways that fraud could be perpetrated should be hypothesized by the auditor prior to conducting audit testing
a. True b. False Indicate whether the statement is true or false
Grantly Seafood is a calendar year taxpayer. In 2019, a hurricane destroyed three of Grantly's fishing boats with a $784,500 aggregate adjusted tax basis. On October 12, 2019, Grantly received a $1 million reimbursement from its insurance company. On May 19, 2020, Grantly purchased a new fishing boat for $750,000. Compute Grantly's recognized gain or loss on the involuntary conversion and its tax basis in the new boat.
A. $215,500 recognized gain; $750,000 basis in the boat B. $250,000 recognized gain; $784,500 basis in the boat C. $250,000 recognized gain; $750,000 basis in the boat D. None of the above
In a given process costing system, the equivalent units of production are computed using the average cost method. The percentage of completion for the current period only is included in the calculation of the: Beginning Work in Process Inventory Ending Work in Process Inventory
a. No No b. No Yes c. Yes No d. Yes Yes
An insurance broker is the agent of the insurance company
Indicate whether the statement is true or false