The Transportation Legislation That Created the Interstate Commerce Commission (ICC)was

question 114

Multiple Choice

The transportation legislation that created the Interstate Commerce Commission (ICC) was which of the following:

• A)Interstate Commerce Act
• B)Motor Carrier Act
• C)Granger Laws
• D)Interstate Initiation Act

---

Definitions:

Initial Franchise Fees

The upfront cost paid by a franchisee to a franchisor to enter into a franchise agreement, typically covering training, support, and the right to use trademarks.

Revenue Recognition

The accounting principle that determines the specific conditions under which income becomes recognized as revenue.

Installment Sales Method

An accounting method used to recognize revenue from sales where payment is received in installments over a period.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) aimed at making global financial reporting more transparent and comparable.