Which of the Following Statements Is True of the United

question 77

Multiple Choice

Which of the following statements is true of the United States' Foreign Commerce Clause?

• A)Regulation of foreign commerce by state governments is unconstitutional.
• B)A state can enact a law that forbids a foreign country from doing business in that state, if that country engages in activities that are not condoned by that state.
• C)Direct regulation of foreign commerce by the federal government violates the Commerce Clause.
• D)A state government is only permitted to regulate foreign trade indirectly.

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Definitions:

Cash Equivalents

Short-term, highly liquid investments with original maturities of three months or less, easily convertible into a known amount of cash.

Commercial Paper

An unsecured, short-term debt instrument issued by corporations, typically used for financing inventory and accounts receivable.

Accounts Receivable

Represents the money owed to a company by its customers for goods or services that have been delivered but not yet paid for.

Bad Debt Expense

An expense associated with accounts receivable that is not expected to be collected.