The Three Basic Legal Forms of Business Enterprise Are

question 116

Multiple Choice

The three basic legal forms of business enterprise are

• A) monopolists, competitors, and enterprises.
• B) vertical, horizontal, and conglomerate corporations.
• C) conglomerates, multinationals, and partnerships.
• D) proprietorships, partnerships, and corporations.

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Definitions:

Activity-Based Costing

A costing methodology that assigns costs to products or services based on the resources they consume.

Traditional Systems

often refer to conventional or established procedures, techniques, or technologies that have been used over time, typically before newer alternatives.

Contribution Margin

The amount remaining from sales revenue after variable expenses are deducted, indicating the ability to cover fixed costs.

Scarce Resource

A resource with limited availability relative to its demand.