<u>The consequences of life tenure for federal judges:</u>
- Life tenure for federal judges was implemented for an extraordinarily vital purpose.
- It protects the judges from the 'political stress' which might come with periodic liability to an 'electorate'.
- But importantly, this ideal does not demand life tenure. Appointment without possibility of renewal for a fixed term of years would fulfill the same purpose.
- But ironically this life tenure has further magnified political divisions.
- So, this has failed to completely implement the judicial independence that the lifetime appointment of a federal judge had hoped to serve.
Answer:
Select the correct statement concerning LIFO liquidations from the following.
a. LIFO liquidations often distort net income and may result in substantial tax payments.
b. LIFO liquidations seldom distort net income and do not result in substantial tax payments.
c. LIFO liquidations often distort net income and do not result in substantial tax payments.
d. LIFO liquidations seldom distort nets income and may result in substantial tax payments.
Explanation:
LIFO liquidation refers to the practice of selling or issuing of older merchandise stock or materials in a company's inventory. Therefore, under the LIFO method, the latest purchased or produced goods are removed and expensed first. And so, the old inventory costs remain on the inventory valuation method.
