The Following Are Advantages of Which Form of Business Ownership

question 56

Multiple Choice

The following are advantages of which form of business ownership: pooled talent, pooled resources, easy to form, and tax advantages?

• A) sole proprietorships
• B) partnerships
• C) corporations
• D) acquisitions

---

Definitions:

Financial Statements

Reports that provide an overview of a company's financial condition in both short and long term, including balance sheet, income statement, and cash flow statement.

Labor Quantity Variance

Labor quantity variance measures the difference between the actual number of hours worked and the number of hours that should have been worked according to standards, multiplied by the standard hourly wage rate.

Direct Labor Hours

The total hours of work contributed by employees who are directly involved in the manufacturing process.

Normal Standards

Guidelines or benchmarks used for measuring or evaluating performance, quality, or compliance in various fields.