In United States v. Mead Corporation, where Mead sued Customs when it changed the classification of the planners Mead imported which resulted in Mead having to pay a 4% tariff, the Supreme Court held that:
a. the change in classification was unjustified so Mead did not owe any tariffs b. the case should be thrown out for lack of evidence
c. all rulings by Customs are equivalent to federal law so Mead had no case d. Mead should pay a 2% tariff as a compromise
e. none of the other choices are correct
e
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Which one of the following statements regarding internal control is true?
a. Companies can design a system of internal control that is foolproof. b. A well-designed internal control system is a luxury that few companies can afford. c. It is easier to implement an effective internal control system in a small company because of the limited number of employees. d. Large companies are able to devote a substantial amount of resources to internal control systems because these companies have the assets to justify the cost.
By 2010, only ________ percent of US households were traditional households
A) 20 B) 25 C) 28 D) 31 E) 33
A limited liability company can be taxed as a partnership.
Answer the following statement true (T) or false (F)
Which of the following is an advantage of debt financing?
A. The interest payments a firm makes on debt are up to 30% tax-deductible. B. A firm using debt financing is not required to make fixed payments. C. It is less risky than equity financing. D. It is more flexible than equity financing.