Facts: Section 3(c)(1)(D)(ii) of FIFRA authorizes EPA to consider certain previously submitted data only if the "follow-on" and registrant has offered to compensate the original registrant for use of the data. The legislation provides for binding arbitration. However, if the registrants fail to agree on compensation, the arbitrator's decision is subject to judicial review only for "fraud, misrepresentation, or other misconduct." The manufacturing firms engaged in the development and marketing of chemicals used in pesticides, appealed the EPA decisions and began proceedings in Federal District Court to challenge the constitutionality of the arbitration provisions. They argued EPA violated Article III of the Constitution by allocating to arbitrators the functions of judicial officers and by limiting
E&Y reasoned this as it creates an exception to the general rule of reserving for expected future product returns at the gross sales price and deferring the recognition of an equal amount of revenue. This justification is invalid. The company’s customers are not “ultimate customers,” but are wholesalers that sold their product to retailers. In addition, Medicis’s returns were not returns of products in exchange for products of “the same kind, quality, and price,” but of unsalable product for
ACC/291 Week 1 Discussion Questions 1. How are bad debts accounted for under the direct write-off method? What are the disadvantages of this method? The direct write-off method is when a company determines that an account is uncollectible and it charges the loss to the Bad Debts Expense. An example of this would be when a customer is not able to pay their bill because due to a downturn in the economy, money may be tight if they have been laid off from their jobs or faced with unexpected hospital bills.
26.If a lessor’s tender of delivery fails to conform to a contract in any way, the lessee can reject the goods. 27.Article 2 of the UCC governs contracts for sales of goods. 28.National Ladder Company is subject to regulations issued by the Occupational Safety and Health Administration (OSHA). Like other federal administrative agencies, the OSHA was created by 29.Fun-E Products, Inc., makes and sells toys. The government agency that has the authority to remove a potentially hazardous toy from the market is 30.Midwest Agri-Products Corporation offers to sell its sugar substitute to Nice Candies, Inc., only if Nice Candies agrees to buy all the corn it needs from Midwest Agri-Products, even though there are other corn sellers from whom Nice Candies could buy.
When corruption occurs it damages the reputation of the employees and the business. Society relied upon this firm to assist in making them money but the firm was more concerned with their bottom line. Many of the individuals doing business with these firms lost their life savings and destroyed some of the trust that investors have with the Wall Street firms. It makes people have second thoughts about investing in the stock market. Another effect this unethical behavior had on these organizations been they agreed to pay a penalty of over $1.43 billion dollars as compensation to the victims.
Fact Future Solutions Inc., (FSI) is protesting the award by the Environmental Protection Agency (EPA) of a blanket purchase agreement (BPA) for office supplies to Corporate Express pursuant to request for quotations (RFQ) No. DC-03-00233. FSI, a small business concern, argues that the requirements should be set aside for small business concerns and that it was not given an equitable opportunity to compete for this requirement. FSI also contends that the consolidation of the agency’s office supply requirements into the BPA constitutes improper bundling. The RFQ contemplated award of a BPA for the procurement of office supplies, with an emphasis in environmentally preferable products (EPP) and products of organizations for the blind or other severely handicapped as authorized by the Javits-Wagner-O’Day Act, 41 U.S.C.
4. a. c, e, b, a, d 5. d. Orlando 6. a. Disallow public folder referrals on the LA-NY connector. 7. c. Create additional public folder trees on EXCH3. 8. d. John is not allowed to perform any actions on the public folders. 9. b. Organization 10 d. Enable circular logging on the storage group that contains the public folder stores 11. a.
Chronology of Events 2/22/00: CalPERS identifies 10 underperforming companies that will serve as their primary focus for corporate governance activism for the 2000 proxy season. The Focus List is made up of two retail companies, JC Penney being one of them, a bank, and 7 other corporations. CalPERS has investments in more than 1600 US companies. The 10 included in the Focus List were selected due to their long term stock performance, corporate governance practices, and economic value added evaluations. JC Penney was named on this list for its disappointing stock price relative to the retail industry.
1. From your understanding of the Sarbanes-Oxley Act, explain how you feel it may negatively affect America’s stock exchanges. The higher than expected costs for many public companies caused some companies to abandon their public status. The costs of SOX compliance negatively affect companies, markets, investors, and economic growth. Fewer companies are willing to enter the market because of the SOX requirements that make going public too costly.
The author of this article, Jeannine Aversa, is stating that key economic indicators point to the likelihood of a recession. Aversa supports her thoughts by noting the real GDP; “crawled at a 1.3 percent pace in the opening quarter of 2007…even weaker than the sluggish 2.5 percent rate in the closing quarter of last year.” The author suggests the main cause of the economic slowdown is due to “the housing slump.” Consumer expenditures are driving the economy, but Aversa worries about a “fallout from risky mortgages and rising energy prices.” Uncertainty of the Feds actions concerning the interest rates is leading to lower investment spending. The author also states that the Feds decision on raising or lowering the interest is due to the