A Corporation That Is Chartered in the State in Which

question 40

Multiple Choice

A corporation that is chartered in the state in which it will do business and issue stock is a/an ____.

• A)foreign corporation
• B)domestic corporation
• C)secret partnership
• D)alien corporation
• E)closely held corporation

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Definitions:

Variable Overhead Efficiency Variance

A metric used to measure the difference between the actual variable overhead cost and the standard cost of the actual production volume.

Cost Driver

A factor that causes a change in the cost of an activity.

Machine Hours

A measure of the amount of time a machine is operated, used in calculating manufacturing costs and efficiency.

Fixed Overhead Volume Variance

The difference between the budgeted fixed overhead and the actual fixed overhead incurred, due to changes in production volume.