Many Small Firms Provide _____ Services to Large Firms-That Is,they

question 46

Multiple Choice

Many small firms provide _____ services to large firms-that is,they hire themselves out to help with special projects or to handle certain business functions.

• A)franchising
• B)entrepreneurial
• C)supplemental
• D)outsourcing

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Definitions:

Net Income

The total profit of a company after operating expenses, taxes, and all other incomes and expenses have been deducted from total revenue.

Variable Costs

Costs that change in proportion with the level of production or sales volume, such as materials and labor.

Fixed Costs

Expenses that do not change with the level of production or sales in the short term, such as rent, salaries, and equipment leases.

Variable Costs

Expenses that fluctuate in direct proportion to the volume of production or amount of output.