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spin [16.1K]
3 years ago
7

There is no such thing as "the law" in that law comes from many different sources.

Business
1 answer:
chubhunter [2.5K]3 years ago
4 0

Answer:

At both the federal and state levels, the law of the United States can be traced back to the common law system of English law, which was in force in the American colonies during the time of the Revolutionary War. Since then, U.S. law has diverged greatly from its English roots both in terms of substance and procedure. The main departure occurred when the United States ratified the Constitution in 1789. In effect, the Constitution and federal statutes and laws made in furtherance of the Constitution were established as “the supreme Law of the Land.” From that point on, the law of the land was no longer based on legal practices in England but became distinctly American and home grown. When the individual states ratified their state constitutions, the state legislatures obtained the power to establish state law, or the “Law of the State.” Together, this collection of federal and state laws constitutes something we often refer to as the “body of law.” This body of law governs the behavior of individuals, businesses, and even governments. Just like the human body, the “body of law” is comprised of multiple parts, each performing an individual function while simultaneously working together as a whole. In this section, we will examine two of the most fundamental types of laws, followed by nearly every nation in the world: statutory law and common law.

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Kuyu Company uses the periodic inventory system. Kuyu started the period with $12,000 in inventory. The Company purchased an add
a_sh-v [17]

Answer:

$29,500

Explanation:

Given that,

Beginning inventory = $12,000

Ending inventory = $6,000

Purchases = $25,000

Purchase return = $1,500

Kuyu’s cost of goods sold during the period:

= Beginning inventory + Net purchases - Ending inventory

= Beginning inventory + (Purchases - Purchase return) - Ending inventory

= $12,000 + ($25,000 - $1,500) - $6,000

= $12,000 + 23,500 - $6,000

= $29,500

5 0
3 years ago
Categorize each statements as a component of Gross Domestic Product (GDP): consumption, investment, government, or net exports.
Natasha2012 [34]

Answer:

-Consumption: ice cream, a domestically manufactured personal computer, cab fare for personal use, 55 cent tacos, A super bowl ticket bought new from the NFL

- Investments: A domestically manufactured business computer

-Government: A public school teacher

-Net Exports: An exported doll house

Explanation:

Gross Domestic Product is the market value of goods and services produced locally within a given period. GDP includes goods and services produced during a particular time interval. In the past, bargains for products produced are not reflected in GDP. Usually this interval is years or quarters.

Consumption contains produced goods and services. It is used by people to meet their needs and wishes. In the Keynesian economy, consumption means individual consumption expenditure and is indicated by the consumption function. The most important part of the consumption function is the marginal consumption trend. MPC shows what percentage of each new income earned is used for consumption expenditures.

Public expenditure, in economy, indicates the complex of money of public origin that is used by the State in public goods and / or public services aimed at pursuing public purposes, regardless of the nature (public or private) of the obligation that is the title . These are therefore the exits by the state and therefore an item of liabilities within the state budget, the coverage of which is necessarily entrusted to taxation on taxpaying citizens or public debt. Otherwise, the repercussions are of an inflation or devaluation type, depending on the domestic or foreign destination of the capital.

Trade balance (Trade deficit) or Net Export is the balance of trade (export, import) of one country (with other countries). Based on this, the Trade Balance (Foreign Trade Balance) is the relationship between exports and imports. If the country's exports are greater than the import, net exports will be greater than 0, and in this case, the country's foreign trade balance will increase (a positive balance). In a word, the trade balance is positive. Otherwise, net exports will be less than 0 if the country exports are smaller than imports. In this case, the country will have a foreign trade deficit. In other words, the trade balance will be negative. The negative trade balance also indicates that the country needs foreign products in addition to its own products.

7 0
3 years ago
Exercise 6-5 (Algo) Performance obligations [LO6-2, 6-4, 6-5] On March 1, 2021, Gold Examiner receives $156,000 from a local ban
kirill [66]

Answer:

stisgksgksgkdkhclhlfjfpj

5 0
3 years ago
Which famous person was known as the original dollar ​
creativ13 [48]
George Washington: Washington has been called the "Father of His Country" for his manifold leadership in the formative days of the new nation.
4 0
3 years ago
Foxmoor Company applies manufacturing overhead by using a predetermined rate of 50% of direct labor cost. The data that follow p
Aleks [24]

Answer:

e. Choice E

Explanation:

Total cost of job no. 764 = $55,000 + $80,000  + 80,000 x 50%

                                         = $175,000

Total Revenue for job no. 764 = $175,000 + $175,000 x 40%

                                                  = $245,000

E. Sales Revenue $245,000

4 0
3 years ago
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