Colby and Carleton Own a Business

question 755

Multiple Choice

Colby and Carleton own a business.Most of their friends and colleagues would say Colby, who manages the business on a daily basis, is down-to-earth and conventional in his thinking, while Carleton is the "dreamer" and "big idea" partner, who is always coming up with new ways to promote and expand the business.Regarding the five-factor model, Colby would rate low and Carleton would rate high on the __________ dimension.

• A) openness to experience
• B) conscientiousness
• C) extroversion
• D) neuroticism

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Definitions:

Overhead Efficiency

Measures how well a company or organization utilizes its overhead expenses to produce goods or provide services.

Fixed Overhead Budget

A plan that outlines the expected fixed costs of operating a business or manufacturing a product, which do not change with production volume or sales levels.

Predetermined Overhead Rate

An estimated rate used to allocate manufacturing overhead costs to products or job orders, based on a chosen activity base such as direct labor hours.

Variable Component

A part of a cost or expense that varies directly with the level of output or activity.