One of the Most Significant Aspects of the Interstate Commerce

question 8

Multiple Choice

One of the most significant aspects of the Interstate Commerce Act was that it

• A) prevented the railroads from merging and monopolizing traffic.
• B) represented the first large-scale attempt by the federal government to regulate business.
• C) enabled farmers to determine rail shipping rates.
• D) empowered state legislatures to control corrupt railroad practices.
• E) invoked the Constitution's interstate commerce clause.

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Definitions:

Balance Sheet

A financial statement that summarizes a company’s assets, liabilities, and shareholders' equity at a specific point in time, offering a snapshot of its financial health.

Worksheet

A worksheet in accounting is a document used to compile information from ledger accounts for the purpose of preparing financial statements.

Control Account

An account used in accounting to summarize the total balances of multiple individual accounts, facilitating internal checks and balances.