Able and Baker Are Both Residents of Iowa, but They

question 22

Multiple Choice

Able and Baker are both residents of Iowa, but they have a dispute regarding some land located in Kansas.Able files a lawsuit in Kansas regarding the land and Baker objects, claiming the Kansas courts have no jurisdiction.In this case:

• A)only the Iowa courts can hear the case.
• B)the Iowa federal district court can hear the case based on diversity of citizenship.
• C)the Kansas courts have in rem jurisdiction to adjudicate the claim regarding the property.
• D)the Kansas federal district court can hear the case based upon diversity of citizenship.

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Definitions:

Equivalent Unit

A concept in cost accounting used to allocate costs to partially completed goods, converting them into the amount of finished goods units that could have been produced with the same amount of input.

Cost Assignment

The process of identifying and allocating costs to cost objects, such as products, services, or departments.

Work in Process

Items that are in the production process but have not yet been completed, representing a component of inventory costs.

Direct Labor

The wages and related benefits of employees who are directly involved in the production of goods or in providing services.