Dynamic Oil Corporation, a U.S. firm, owns property in Ecuador. When the government of Ecuadorseizes the property, Dynamic Oilasks a U.S. court to order the property's return. The court rules that Ecuadoris exempt from the court's jurisdiction. This is
a. a travesty of justice.
b. theact of state doctrine.
c. thedoctrine of sovereign immunity.
d. theprinciple of comity.
C
You might also like to view...
A slide projector purchased by Cobin Industries is expected to last 7 years. The purchase price was $13,780. The trade-in value is $2,300. Using the sum-of-the-years' digits depreciation method, calculate the accumulated depreciation at the end of year 3.
A. $4,921.43 B. $7,380.00 C. $8,858.57 D. $6,400.00
Which one of the following statements regarding the application of the lower of cost or market method is true?
a. Generally, market value is greater than replacement cost. b. When the lower of cost or market method is used, inventories are valued at selling price. c. The lower of cost or market method is most commonly applied on a total inventory basis because it is a more conservative approach. d. The lower of cost or market method is an exception to the historical cost principle.
Which of the following accounting principles prescribes that a company record its expenses incurred to generate the revenue reported?
A. Going-concern assumption. B. Consideration assumption. C. Expense recognition (Matching) principle. D. Business entity assumption. E. Measurement (Cost) principle.
The Code has made certain offers irrevocable without the offeree giving any consideration for the promise to keep the offer open. These offers are known as:
a. firm offers. b. manner of acceptance. c. variant acceptances. d. options.