Leagues such as the NFL, NBA, and MLB all maintain "credit facilities" because
A. the leagues do not trust the financial markets.
B. the leagues can borrow less expensively than can individual teams.
C. the leagues use them to administer revenue sharing.
D. A and B are correct.
E. B and C are correct.
Answer: B. the leagues can borrow less expensively than can individual teams.
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If an expense is paid with cash
A. assets will decrease. B. retained earnings will increase. C. liabilities will increase. D. expenses will decrease.
Theo is injured at work and files a workers' compensation claim, which is administered by the workers' compensation agency in his state. His employer disputes the extent of Theo's injuries. The case is heard by an administrative law judge (ALJ), who decides the case in the employer's favor. Theo's attorney tells him that his case cannot be appealed to a court because
a. he does not have standing to appeal an administrative decision, only the employer could do that. b. the decision of the ALJ is final in all administrative challenges. c. he has not first appealed the case to the workers' compensation board that heads the state agency. d. there is not an actual controversy that qualifies for judicial proceedings.