Which of the following demonstrates the principle of Federalism in the United States as outlined in the U.S. Constitution?  

A proposal to raise the age to 21 for young people to purchase or own a firearm would likely be in direct conflict with which Constitutional Amendment?  

It can be argued that marijuana regulation should up to the federal government or the state governments because each can make a claim under the Constitution.  The 10th Amendment gives states powers not specifically delegated to the federal government and the federal government has the power to regulate interstate commerce and enforce federal drug laws.  These conflicting ideas represent what Constitutional principle?   

M095 Chapter 8 Test 20-1.pdf

Polar Coast Fisheries Ltd. has equipment costing $600,000 with accumulated depreciation of $210,000 using straight-line. Management now believes a 15% declining-balance method better reflects the equipment’s usage pattern. The change is applied prospectively. What is depreciation expense for the first year after the change?

Partial-year depreciation under ASPE requires:

Northern Trail Outfitters traded in a delivery van with a carrying amount of $24,000 toward a newer used van. The dealer provided a $21,000 trade-in allowance, and Northern Trail paid $6,000 in cash. The fair value of the replacement van was reliably measured at $27,000. The transaction has commercial substance. What is the appropriate accounting treatment?

Granite Coast Fabrication Ltd. acquired a CNC milling machine on March 1 for $420,000. Delivery and rigging required to position the machine cost $18,000, and diagnostic testing before the machine could operate cost $6,000. The machine was fully installed and ready for use on April 1. Employee training that occurred after commissioning cost an additional $14,000. What amount should Granite Coast capitalize as the cost of the machine?

Maritime Spice Co. undertook a major overhaul of its industrial grinder at a cost of $38,000. The overhaul replaces a prior overhaul component that still carried a book value of $9,000. The company must determine how to account for both amounts in accordance with ASPE. Which accounting treatment is appropriate?

Daily recommended intake of water is ~ 64 oz/day.  If you drink 128 oz/day which of the following might you expect: