Governor Bellwether Wants to Pass a Law That Would Require

question 25

True/False

Governor Bellwether wants to pass a law that would require all newspapers in the state to get a license. Now there is no question if the federal government tried to pass this act, then it would be a violation of the First Amendment. But, because the Bill of Rights is actually a restriction on the federal government, and what it can do regarding limiting individual freedoms, the governor would be able to create such a law without running afoul of the U.S. Constitution.

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Net Realizable Value

The estimated selling price of an item in the ordinary course of business minus any costs associated with the sale or disposal of the item.

Bad Debt Expense

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An amended bookkeeping entry made to rectify or allocate transactions to the appropriate accounting period or ensure that revenues and expenses are recorded in the period they occur.