In the Case of a Physical Disaster, a Small Business

question 88

True/False

In the case of a physical disaster, a small business owner may apply for a low-interest SBA loan of up to $2 million to repair or replace damaged real estate, equipment, inventory, and fixtures.

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Definitions:

Standard Direct Labor

The expected amount of labor time and cost necessary to produce one unit of product under normal conditions.

Power Cost

The expense incurred by a company for the electricity used in its operations.

Automotive Engines

The specific units within vehicles that convert fuel into mechanical power, allowing the vehicle to move.

Materials Quantity Variance

The discrepancy between what was actually used in terms of material for production and what was anticipated, times the standard cost for each unit.