The Small Business Administration

question 15

Multiple Choice

The Small Business Administration

• A) was established by the U.S.Chamber of Commerce to encourage the entrepreneurial spirit.
• B) is an independent agency of the federal government to provide managerial and financial assistance to small businesses.
• C) is a subsidiary of the Better Business Bureau.
• D) is a division of the federal government that is responsible for ensuring that newly formed businesses adhere to the law.
• E) is a U.S.Congressional agency that fosters the establishment of new businesses.

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Definitions:

Factory Overhead

All indirect costs associated with manufacturing that are not classified as direct labor or direct materials, including utilities, depreciation, and maintenance expenses.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold in a company.

First Quarter

Refers to the first three months of a fiscal or calendar year (January to March), often used in financial reporting and analysis.

Finished Goods

Items that have been fully made but remain unsold or not delivered to the final consumer.