Which of the following statements is true about the Supremacy Clause of the U.S. Constitution?
A) A particular federal statute cannot exclusively regulate a specific area or activity.
B) Any state or local law that "directly and substantially" conflicts with valid federal law is preempted.
C) A particular federal statute can expressly provide for exclusive jurisdiction.
D) Any state or local law that "directly and substantially" conflicts with valid federal law is held valid until such a time that the relevance of the federal law is tested and held in harmony with the cultural diversity in the state.
B
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Which of the following inventory costing methods yields the lowest net income during a period of rising inventory costs?
A) specific identification B) weighted-average C) last-in, first-out D) first-in, first-out
In some environments, it is very difficult to dispose of used products
Explain what special types of disposal problems are created by densely populated areas and what type of business could be created in Manhattan, New York or Hong Kong that would take advantage of this difficulty.