The Interstate Commerce Act of 1887

question 97

Multiple Choice

The Interstate Commerce Act of 1887

• A) put in place a series of regulations for railroad companies.
• B) had little practical effect for decades.
• C) created a five-person commission to oversee the act.
• D) both created a five-person commission to oversee the act, and had little practical effect for decades.
• E) All these answers are correct.

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Definitions:

Functional Currency

The primary currency of the primary economic environment in which an entity operates, used in generating and expending cash.

Exchange Rates

The worth of one currency when converted to another, establishing how much one currency can be exchanged for another.

Operating Expense

Recurring expenses incurred during normal business operations, such as rent, utilities, and salaries.

Parent Corporation

A larger corporation that owns more than half the stock of another firm, allowing it to control the subsidiary's management and operations.