In Massachusetts v. EPA, where Massachusetts and other states sued to force regulation of greenhouse gases from vehicles, the Supreme Court held that:
a. EPA has final determination of all such regulations; the states may not force EPA to regulate air quality b. EPA is following the orders of Congress on emissions, so the states can petition Congress, not the courts
c. EPA would allow the states to set their own emission standards as part of their State Implementation Plans d. all of the other specific choices are covered in the law
e. none of the other choices are correct
e
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If technology changes rapidly, a firm should
a. expense plant asset immediately because of the uncertainty of future benefits. b. depreciate plant assets over long periods of time. c. consider an accelerated rate of depreciation. d. use the straight-line method of depreciation as it is the easiest.
Equity is defined as a residual claim such that assets plus liabilities equals equity
Indicate whether the statement is true or false
If the three highest-level ethical theories are in conflict about what to do in a situation, what is considered to be the most important ethical choice?
a. trying to improve the lives of the majority of affected people b. pursuing the greatest good c. seeking to do the least amount of harm d. respecting everyone and acting virtuously
Sales revenue equals the product cost per unit times the number of units sold
Indicate whether the statement is true or false