In Wickard v. Filburn the Supreme Court held that Congress has the constitutional authority to regulate agricultural production even if the output is not sold into commerce
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Characteristics of an effectively worded strategic vision statement are most likely to include
A. achievable, profitable, and ethical. B. balanced, responsible, and rational. C. realistic, customer-focused, and market-driven. D. challenging, competitive, and "set in concrete." E. graphic, directional, and focused.
In the U.S. market-directed system, it is up to each ________ to decide how effectively individual firms satisfy the consumer's needs.
A. salesperson B. customer C. market research consultant D. manufacturer E. advertising agency
A primary user of accounting information with a direct financial interest in the business is a
a. regulatory agency. b. creditor. c. taxing authority. d. labor union.
On September 12, Ryan Company sold merchandise in the amount of $5,800 to Johnson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Ryan uses the periodic inventory system and the net method of accounting for sales. On September 14, Johnson returns some of the non-defective merchandise, which is restored to inventory. The selling price of the returned merchandise is $500 and the cost of the merchandise returned is $350. The entry or entries that Ryan must make on September 14 is (are):
A.
| Sales returns and allowances | 490 | |
| Accounts receivable | 490 | |
| Merchandise inventory | 343 | |
| Cost of goods sold | 343 |
B.
| Sales returns and allowances | 490 | |
| Accounts receivable | 490 | |
| Merchandise inventory | 350 | |
| Cost of goods sold | 350 |
C.
| Sales returns and allowances | 500 | |
| Accounts receivable | 500 |
D.
| Sales returns and allowances | 490 | |
| Accounts receivable | 490 |
E.
| Sales returns and allowances | 350 | |
| Accounts receivable | 350 |