In South-Central Timber Development v. Wunnicke, concerning federal and state regulation of Alaska timber processing, the Supreme Court held:
a. Congress may limit interstate commerce however it wishes
b. Congress may limit interstate commerce only with approval of the affected states
c. Congress may not regulate intrastate commerce, if the effect is "inherently uncompetitive" d. States may place substantial burdens on interstate commerce
e. none of the other choices
e
You might also like to view...
How does the application of the lower-of-cost-or-market rule differ between U.S. GAAP and IFRS?
You list your sources so anyone can check the authenticity and accuracy of your information
Indicate whether this statement is true or false.
Museum Corporation acquired a new manufacturing building by issuing 10,000 shares of its $50 par value preferred stock with a $75 per share market price. Similar buildings have recently cost $780,000 . What are the effects of this transaction on the accounting equation for Museum?
a. Building and Preferred Stock increase $780,000. b. Building and Preferred Stock increase $500,000. c. Building increases $780,000? Preferred Stock increases $500,000? Additional Paidin Capital—Preferred increases $280,000. d. Building increases $750,000? Preferred Stock increases $500,000? Additional Paidin Capital—Preferred increases $250,000.
Cahuilla Corporation predicts the following sales in units for the coming four months: April May June July Sales in units240 280 300 240 Each month's ending Finished Goods Inventory in units should be 40% of the next month's sales. March 31 Finished Goods inventory is 96 units. A finished unit requires five pounds of direct material B at a cost of $2.00 per pound. The March 31 Raw Materials Inventory has 200 pounds of direct material B. Each month's ending Raw Materials Inventory should be 30% of the following month's production needs. The budgeted purchases of pounds of direct material B during May should be:
A. 1,008 lbs. B. 1,854 lbs. C. 276 lbs. D. 1,422 lbs. E. 288 lbs.