The U.S. Constitution directly established lower federal courts as well as the U.S. Supreme Court
Indicate whether the statement is true or false
false
You might also like to view...
The justification for the accrual basis of accounting lies in the needs of financial statement users for periodic information on the financial position and the profitability of the entity
a. True b. False Indicate whether the statement is true or false
Tae Franklin is the sales manager of Darius Enterprises, a very profitable distributor of office furniture to local businesses. A recent economic downturn has created an extremely tight cash position, and the company has been hurt by the bankruptcy of two key customers.In late October, anticipating an economic recovery, Franklin began an extensive remodeling of the company's sales floor. Construction costs, decorating, and equipment purchases are projected to cost $250,000.Darius has a policy that individual expenditures in excess of $200,000 must be approved by the firm's board of directors. Franklin, unfortunately, missed the deadline to have the board consider this project at its regular September meeting. Not wanting to wait until the next meeting in December, he subdivided the
project in two parts-construction and decorating ($190,000) and equipment purchases ($60,000)-neither of which needed board approval because of the dollar amounts involved.The project was recently completed and sales have begun to recover. Customers have raved about the new sales area, noting that it is far superior to those of Darius's competitors.Required:A. Would Franklin's approach of subdividing the project in two parts have any effect on the company's financial statements? Briefly explain.B. Briefly discuss whether Franklin behaved in an ethical manner.C. Which, if any, of the following standards of conduct would have applicability to Franklin's conduct: competence, confidentiality, integrity, or credibility? Briefly explain. What will be an ideal response?
The CISG supersedes the UCC in any situation to which either could apply
Indicate whether the statement is true or false
The fear of immediate bodily harm that occurs for there to be an assault is fear:
a. that would be suffered by a reasonable person under the circumstances b. that was suffered by the plaintiff, as demonstrated by the plaintiff's proof, given the plaintiff's mental condition at the time of the event c. that the plaintiff alleges to have suffered, regardless of the circumstances d. that any "sensitive person" would have suffered under similar circumstances e. that the judge instructs the jury has occurred or not, under the circumstances