Solve the following financial problems kindly!!!

Why is the Commerce Clause important to business? What parts of business are likely to be governed by federal law and what parts are likely to be governed by state law?

Why is the Commerce Clause important to business? What parts of business are likely to be governed by federal law and what parts are likely to be governed by state law?

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As you start your journey of studying business law, you read about various laws that were enacted in response to business related issues. For this week's discussion board you will address the question: Why have laws pertaining to business?

2. Preparation of final accounts is governed by different Acts, Laws, Standards and Principles like Income tax law, Company Act, Partnership Act, Accounting Standards (AS), Generally Accepted Accounting Principles (GAAP) etc., used for valuation of financial transactions/events to standardize accounting information, which in turn depends upon type of organization concerned. The final accounts are prepared based on the nature of operations of these types of businesses. Differentiate between the following types of final accounts; a. Trial Balance and the Balance sheet b. Manufacturing Account and Trading Account c. Trading Account and Profit and Loss Account d. Income statement and Balance Sheet. How does law reflect society's attitudes? . What is the significance of the law to the business environment? . How should business approach the management of legal risks? . What is the relationship between the law and business ethics? . Who makes law? . How do courts decide whether the legislation is valid under the Constitution? . What else do courts do? . How does the Charter of Rights and Freedoms protect our human rights? . Why is the Charter relevant for business? . What is the purpose of a code of conduct? . How does law impact international business activities