- The district court will first determine if there is a conflict between state and federal law with regard to the matter at hand before deciding whether to apply state or federal law.
- If there is a contradiction between the appropriate state and federal laws, the district court must determine whether a valid federal statute or Federal Rule addresses the contested matter.
- If there is no applicable federal act or regulation, the court must decide whether federal common law or state law should be applied.
- When a "uniquely federal interest" is at risk and a considerable conflict arises between that interest and the operation of state law, the Supreme Court has also acknowledged the application of federal common law.
<h3>Federal district court took decision -</h3>
- If there are significant, overriding federal interests at stake that require the application of federal law, a federal court may still apply federal common law.
- Such federal interests are evident in this case, as was previously discussed.
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Answer:
The automotive industry is very helpful to the modern world. For many reasons such as, feuling econonmies, providing mass transportation, and millions of jobs. Most would agree the most benifical service the automotive industry provides is transportation. Without the production of cars it would be much harder to get from point A to point B. Not impossible but everyone knows it is less efficent to walk, run, or even ride horse.
Explanation:
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Answer:
The journal entry to record applied conversion costs for May will include a debit to raw and in-process inventory for $300,000.
Explanation:
Raw materials of all kinds are measured at the start and recorded into a list plus account, with a credit to the accounts collectible account, and a debit to the raw materials inventory account.
The accounting treatment will vary when raw materials are consumed speculating on their standard as direct or indirect materials.
Thus, the journal entry to record applied conversion costs for May will include a debit to raw and in-process inventory for $300,000.
The bottom-up approach to calculating OCF starts with net income. Thus the 2nd option is correct.
<h3>What is OCF?</h3>
The full form OCF is Operating cash flow which refers to the generation of the cash during the normal course of the business. It involves the cash generated by the company through the operating activities.
The operating cash flow is calculated through total revenue or the income of the company minus the operating expenses of the company. In order to calculate the operating cash flow all the operating expenses must be deducted.
Thus the 2nd option is correct.
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