Which of the Following Is a Business Tenet of Warren

question 121

Multiple Choice

Which of the following is a business tenet of Warren Buffett?

• A) Long term prospects.
• B) Resistance to institutional imperative.
• C) Creation of one dollar of market value for every dollar retained.
• D) Purchase at discount to intrinsic value.
• E) Product is not faddish

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Definitions:

Materials Price Variance

It measures the difference between the actual cost of materials used in production and the expected (standard) cost.

Price Standard

A predetermined cost that management believes should be paid for an item, often used in budgeting and variance analysis.

Pounds

A unit of mass in the imperial system, symbolized as lb.

Labor Quantity Variance

The difference between the actual hours worked and the standard hours planned, multiplied by the standard labor rate.