In Davis v. Michigan Dept. of Treasury, Michigan exempted from state income taxes the retirement benefits paid to state employees. The state taxed all other retirement income, such as retired federal government employees' benefits. This law was found:
a. unconstitutional violation of the necessary and proper clause b. unconstitutional violation of the commerce clause
c. constitutional because it involves interstate commerce
d. unconstitutional violation of the First Amendment rights of the state e. constitutional because it involves all states
b
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Costs that remain the same over a wide range of activity, but jump to a different amount outside that range, are known as:
A. step-fixed costs. B. mixed costs. C. step-variable costs. D. semivariable costs. E. curvilinear costs.
Which is NOT an example of current assets?
A) Marketable securities B) Intangible assets C) Prepaid expenses D) Trade receivables
Darden Corporation uses the weighted-average method in its process costing system. The first processing department, the Welding Department, started the month with 18,000 units in its beginning work in process inventory that were 10% complete with respect to conversion costs. The conversion cost in this beginning work in process inventory was $16,200. An additional 84,000 units were started into production during the month. There were 17,000 units in the ending work in process inventory of the Welding Department that were 70% complete with respect to conversion costs. A total of $836,880 in conversion costs were incurred in the department during the month. The cost per equivalent unit for conversion costs for the month is closest to:
A. $9.000 B. $9.963 C. $8.804 D. $8.286
The Confederation of Mexican Workers was a strong opponent of the longtime ruling party in Mexico.
Answer the following statement true (T) or false (F)