Which One of the Following Best Describes a Broker

question 48

Multiple Choice

Which one of the following best describes a broker?

• A)intermediary who arranges trades between a buyer and a seller
• B)trader who buys and sells from his or her inventory
• C)firm which charges a commission for arranging a transaction
• D)person who buys securities for his or her own account on an exchange floor
• E)trader who transacts business on behalf of a securities issuer

---

Definitions:

Indirect Manufacturing Cost

Costs related to the production of goods that cannot be directly tied to a specific product, such as factory overhead.

Standard Cost Formula

A calculated estimate of the expected cost of production, including direct labor, materials, and overhead, used for budgeting and variance analysis.

Level Of Activity

Refers to the volume of work performed or capacity utilized within a specific period.

Fixed Manufacturing Overhead

The costs that do not change with the level of production, including costs such as rent, insurance, and salaries for management.