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In legal terms, it seeks to make a statement that information cannot be relied upon, or may have changed by the time of use. It is regularly used in accounting, to "excuse slight mistakes or oversights."
Congress can abrogate the states' sovereign immunity in some situations. [3] However, it cannot do so implicitly: it must "mak[e] its intention unmistakably clear in the language of the statute." [4] Conversely, just as purported abrogation requires a clear statement, so too a purported waiver by a state requires a clear statement. [4]
The official 2007 edition of the UCC. The Uniform Commercial Code (UCC), first published in 1952, is one of a number of uniform acts that have been established as law with the goal of harmonizing the laws of sales and other commercial transactions across the United States through UCC adoption by all 50 states, the District of Columbia, and the Territories of the United States.
The main problem is the key requirement to produce consolidated financial statements for all controlled entities. Consolidating government business entities with ministries and departments would be very time-consuming, and almost all governments consider that it is not worth the very real costs.
The main purpose of a problem statement is to identify and explain the problem. [3] [4] Another function of the problem statement is as a communication device. [3] Before the project begins, stakeholders verify the problem and goals are accurately described in the problem statement. Once approved, the project reviews it.
At common law, only the essential terms were required in the signed writing. Under the UCC, the only term that must be present in the writing is the quantity. The writing also does not need to be one document, but if there are multiple documents, they must all obviously refer to the same transaction, and they all must be signed.
Objectivity principle: The company financial statements provided by the accountants should be based on objective evidence. Materiality principle: The significance of an item should be considered when it is reported. An item is considered significant when it would affect the decision of a reasonable individual.
South Carolina v. Katzenbach, 383 U.S. 301 (1966), was a landmark decision of the US Supreme Court that rejected a challenge from the state of South Carolina to the preclearance provisions of the Voting Rights Act of 1965, which required that some states submit changes in election districts to the Attorney General of the United States (at the time, Nicholas Katzenbach). [1]