The state of Alabama passes a statute which requires that male heirs be preferred over female heirs in selecting an executor of an estate. Laura, a lawyer, would like to be the executor of her father's estate, but so would her eighteen-year-old brother who just flunked out of college. She challenges the provision as being a violation of the Equal Protection Clause of the Fourteenth Amendment. The
case is now under consideration by Alabama's highest court. In deciding the constitutionality of the provision, the court will:
a. apply the rational relationship test.
b. apply the strict scrutiny test.
c. apply the intermediate standard test.
d. create a new test
c
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a. True b. False Indicate whether the statement is true or false
Within a state, the state constitution precedes the U.S. Constitution
Indicate whether the statement is true or false
Bylaws are the internal rules of management for a corporation
Indicate whether the statement is true or false
Which of the following statements is CORRECT?
A. The regular payback method recognizes all cash flows over a project's life. B. The discounted payback method recognizes all cash flows over a project's life, and it also adjusts these cash flows to account for the time value of money. C. The regular payback method was, years ago, widely used, but virtually no companies even calculate the payback today. D. The regular payback is useful as an indicator of a project's liquidity because it gives managers an idea of how long it will take to recover the funds invested in a project. E. The regular payback does not consider cash flows beyond the payback year, but the discounted payback overcomes this defect.