Before the 1979 Iranian uprising, Lumax had a plant in Iran. The Iranian government allowed Lumax to send products and profits out of the country. The new government confiscated Lumax's plant. The company sued the government of Iran in a U.S. courts: the forum choice of the parties in case of any dispute. A U.S. court will likely hold:
a. that Iran has committed an lawful act and need not compensate Lumax
b. that Iran and the U.S. must resolve their differences in a neutral forum such as the courts of Switzerland
c. that Lumax may sue the government of Iran under the provisions of the Foreign Sovereign Immunities Act d. that Iran must compensate Lumax according to international nationalization laws
e. for Lumax and allow the company to attach assets held by the Iranian government in the U.S.
c
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Concerning purchase discounts, which one of the following statements is true?
A) Purchase discounts taken should be deducted from the acquisition cost of the inventory. B) The net price method results in recording accounts payable at the maximum value of the liability that the company may be required to pay out. C) Purchase discounts lost should be included in the cost of inventory. D) An advantage of the gross price method is that it isolates purchase discounts lost and thus highlights inefficiencies.
The MBIE has been shown to have both _______________ and _______________
a. Consistency; face validity b. Validity;reliability c. Validity; congruence d. Integrity; consistency
The Constitution provides that federal statutes are paramount to state constitutions and statutes
a. True b. False Indicate whether the statement is true or false
Answer the following statement(s) true (T) or false (F)
1. There are five basic modes of transportation. 2. In the U.S., rail freight carriers account for the highest amount of freight hauled (by tons) of the five basic transportation modes. 3 The LTL industry in the U.S. is consolidated among a few large carriers. 4. Freight rail service is typically cheaper than motor carrier freight service. 5. High-speed passenger rail service has become widespread in the U.S.