Which of the Following Contributed to the More Relaxed Incorporation

question 21

Multiple Choice

Which of the following contributed to the more relaxed incorporation procedures of modern times?

• A) The idea that incorporation is a by-product of the people's right to associate, not a gift from the state.
• B) The move from mercantilist thinking to a belief in Benjamin Franklin's invisible hand.
• C) The idea that incorporation is a gift from the state.
• D) The thought that laissez-faire is a losing proposition..

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Definitions:

Labor Efficiency Variance

The difference between the actual labor hours used to produce a good or service and the standard labor hours expected to be used, measuring labor efficiency.

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the expected (or standard) variable overhead based on activity levels.

Favorable

A term used in accounting and finance to describe outcomes or variances that are better than anticipated, indicating a positive performance against the budget or forecast.

Unfavorable

A term used to describe a variance or outcome that results in a worse financial position than expected or budgeted.