It was not until the 1930s that the Supreme Court held the states could not interfere with federal regulation of business

a. True
b. False
Indicate whether the statement is true or false


False

Business

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Which of the following is true about absorption costing?

a. No fixed factory overhead is charged to production. b. It is also known as direct costing. c. The term used to designate the difference between sales and cost of goods sold is the "manufacturing margin.". d. Overapplied factory overhead is reflected in the income statement as a reduction cost of goods sold.

Business

Which of the following cases would cause the tax liability to be greater than tax expense?

a. Receipt of cash for rent prior to the period in which services are performed. b. Income from long-term construction contracts using the percentage-of-completion approach for financial accounting and the completed-contract approach for income taxes. c. Installment sale income recognized for financial purposes at the time of sale and when cash is collected for taxes. d. Accelerated depreciation for taxes and straight-line depreciation for income taxes.

Business

A violation where the hazard could cause injury or illness that would most likely result in death or significant physical harm is known as a _____________ violation.

A. serious B. mistaken C. minimum D. willful E. None of the above

Business

A counter-offer creates a new valid contract

Indicate whether the statement is true or false

Business