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padilas [110]
3 years ago
10

In response to rapidly rising property taxes, California voters approved a statewide ballot initiative, Proposition 13, which fr

oze property taxes regardless of the appraised value of the property. The state was to reassess the value of the property and could increase taxes only when the ownership of property was transferred. The property was exempt from this reassessment if the exchange of ownership was made between persons over the age of fifty-five or between parents and children. Over time, this system created dramatic differences in the taxes paid by people owning similar property. Long-term owners paid lower taxes; new owners paid higher taxes. Stephanie Nordlinger bought a house in Los Angeles County. Nordlinger then sued the county, claiming that the tax system was unconstitutional under the equal protection clause because it allowed the government to treat similarly situated individuals differently. In finding that the law did not violate the equal protection clause, the court most likely applied which of the following standards?
a. Strict scrutiny
b. The rational bass test
c. intermediate scrutiny
d. A due process test
Business
1 answer:
Aleks04 [339]3 years ago
5 0

Answer: b. The Rational Basis test

Explanation:

The Rational Basis test allows for a court of law to scrutinize a Government law or regulation to determine if it violates the principles of the Equal Protection clause which holds that people in a jurisdiction are entitled to equal protection under the laws of the jurisdiction.

The Rational Basis clause is usually applied to economic and business laws Instituted by a government and for this reason and the previously mentioned must be the standard that the court applied in finding out if Nordlinger was in the right.

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The Office Supplies account had a balance at the beginning of year 3 of $4,000 (before the reversing entry). Payments for purcha
snow_lady [41]

Answer:

a. Office Supplies Expense a/c Dr. $750

Explanation:

We are provided that office supplies are recorded as an expense, in that case entry will be:

Office Supplies Expense A/c Dr.

                 To Cash A/c

After this, there is a valuation of closing balance of supplies in hand.

As per books = $4,000

As per inventory of supplies in hand = $4,750

The difference = $4,750 - $4,000 = $750

This will be recorded in Office supplies expense as in this account only the supplies are recorded.

Therefore correct option is

a. Office Supplies Expense a/c Dr. $750

4 0
3 years ago
What will happen if a shoe firm sells its shoes at a price lower than the opportunity cost of the inputs used in the production
Maslowich
Had to look for the options and here is my answer. What happens when a shoe firm puts its shoes on sale at a price that is lower than the opportunity cost of the inputs used in the process of production is that the firm will possibly make losses between the accounting and economic aspects. 
5 0
4 years ago
Troy will receive $7,500 at the end of Year 2. At the end of the following two years, he will receive $9,000 and $12,500, respec
Pepsi [2]

Answer:

$33,445.44

Explanation:

The future value of an investment is its worth at a future date if the investment is done at a specific interest rate compounded yearly for certain number of years

It is computed as follows:

FV = PV (1+r)^n

FV = Future Value, PV = present value, r- interest rate, n- number of years

<em>Future value of $7500 after 3 years:</em>

FV = 7500× (1.08)^3 = 9,447.84

<em>Future Value of $9000 after 2 years:</em>

FV = 9000 × (1.08^2) = $10,497.6

<em>Future value of $12,500 after 1 year:</em>

FV = 12500× 1.08 = $13,500

The future value of these cashflows at the end of year 5

= 9,447.8 + 10,497.6 + 13,500

= $33,445.44

7 0
3 years ago
Read 2 more answers
2 tens 3 ones 2 tenths<br>​
Slav-nsk [51]

Answer:

322 is the answer

hope this helps

6 0
4 years ago
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Given the market for illegal drugs, when the government is successful in reducing the flow of drugs into the united states,
Natasha2012 [34]
B. demand and supply both decrease, leaving price essentially unchanged.
6 0
3 years ago
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