In Katzenback V

question 257

True/False

In Katzenback v. McClung, concerning race discrimination at a restaurant, the Court held that the Constitution does not allow federal regulation of purely local businesses, even if the goal is socially desirable.

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Definitions:

Comparative Balance

A financial statement that presents balances of accounts or financial metrics at different points in time for comparison.

Direct Method

A method of preparing the cash flow statement where actual cash flow information from operating activities is directly listed.

Operating Activities

Business functions that are directly related to the production and delivery of goods and services, generating the primary revenue streams for a company.

Cash Dividends

Payments made to shareholders out of a corporation's earnings, representing a proportion of the profits.