This Type of Business Organization Is Relatively Easy to Start

question 16

Multiple Choice

This type of business organization is relatively easy to start, and it is subject to much lighter regulatory and paperwork burden than other business forms.

• A)Sole proprietorship
• B)Partnership
• C)Corporation
• D)Hybrid organization

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Definitions:

Flexible Budgets

A financial plan that adjusts to varying levels of operational activity or volume.

Fixed And Variable

Terms describing costs within a business; fixed costs do not change with the volume of production, while variable costs do.

Production Budget

A plan that outlines the number of units that need to be produced to meet sales demands and inventory requirements.

Master Budget

An integrated set of operating and financial budgets for a period of time.