Railroads

question 37

Multiple Choice

Railroads

• A) were among the last of the pre-1890 big businesses to be regulated.
• B) were only subject to regulation by governments when the federal government stepped in with?the Interstate Commerce Act of 1887.
• C) were objects of regulation more than a decade before the Interstate Commerce Commission Act.
• D) were never subject to government regulation before World War I and the "command economy."

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Definitions:

Standard Costs

Predetermined costs for the manufacturing of products or performing services under normal conditions, used as benchmarks to measure actual performance.

Accountants

Professionals who manage and analyze financial records to ensure accuracy and compliance with laws and regulations.

Financial Expertise

The knowledge and skills related to managing money, investments, and financial analysis, often essential for making informed business decisions.

Normal Standards

Standards that represent levels of operation that can be attained with reasonable effort. Also called currently attainable standards.