What is the jurisdiction of the U.S. Supreme Court?
What will be an ideal response?
The U.S. Supreme Court, which is an appellate court, hears appeals from federal circuit courts of appeals and, under certain circumstances, from federal district courts, special federal courts, and the highest state courts. No new evidence or testimony is heard. As with other appellate courts, the lower court record is reviewed to determine whether there has been an error that warrants a reversal or modification of the decision. Legal briefs are filed, and the parties are granted a brief oral hearing. The U.S. Supreme Court's decision is final.
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Answer the following statements true (T) or false (F)
1. Heuristics are strategies that simplify the process of making decisions. 2. When managers use information that is readily available from memory to make judgments, it is known as a confirmation bias. 3. Being "loss adverse" and hating to admit you're wrong can contribute to the escalation of commitment bias. 4. Groups make better decisions than most individuals acting alone.
In contrast to a batch processing system, in a real-time system
a. a lag occurs between the time of the economic event and when the transaction is recorded b. relatively fewer hardware, programming, and training resources are required c. a lesser resource commitment per unit of output is required d. processing takes place when the economic event occurs
All of the following are criteria that revenues must meet according to the SEC Staff Accounting Bulletin No. 101 except
a. Persuasive evidence of an arrangement b. Delivery or services planned but not necessarily rendered c. Price fixed or readily determinable d. Collectability reasonably assured
The United States is selling more domestically produced products in other countries than any other country in the world. This means the United States is the world leader in:
A. quota making B. exporting C. tariff trading D. dumping E. licensing