Which of the following is correct with regard to the powers of government in the United States?
A) The federal government is a government of enumerated powers.
B) The federal government is all-powerful except in cases of state criminal law.
C) Legislation enacted by Congress does not need to be based on a specific power granted to the federal government by the Constitution or be reasonably necessary to carry out a specified power..
D) Congress may not enact legislation that affects the states.
A
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Which of the following is not one of the advantages relational data models have over other data models?
A. Simplicity. B. Exclusively uses parent/child relationships. C. Reduced information redundancy. D. Increased flexibility and scalability.
Neville Co issued 20-year term bonds at a discount in 20x5. Interest is payable semiannually. Which of the following statements is true, assuming that the effective interest method of amortization is used for the bond discount?
A) Interest expense decreases each six-month interest period. B) Interest expense as a percentage of the bond's book value changes from period to period. C) Interest expense increases each six-month interest period. D) Interest expense remains constant in amount for each interest period.
On April 1, Griffith Publishing Company received $1,548 from Santa Fe, Inc. for 36-month subscriptions to several different magazines. The company credited Unearned Fees for the amount received and the subscriptions started immediately. Assuming adjustments are only made at year-end, What is the adjusting entry that should be recorded by Griffith Publishing Company on December 31 of the second year?
A. debit Unearned Fees, $516; credit Fees Earned, $516. B. debit Unearned Fees, $1,548; credit Fees Earned, $1,548. C. debit Unearned Fees, $387; credit Fees Earned, $387. D. debit Unearned Fees, $1,161; credit Fees Earned, $1,161. E. debit Unearned Fees, $129; credit Fees Earned, $129.
A static budget:
a. should be compared to actual costs to assess how costs were controlled. b. should be compared to a flexible budget to assess how costs were controlled. c. is the best way to display spending standards. d. is valid for only one level of activity. e. All of the answers are correct.