For Most Business Decisions,the Quorum,or Minimum Number of Directors Necessary

question 35

Multiple Choice

For most business decisions,the quorum,or minimum number of directors necessary to conduct business,is usually ________ of the total number of directors.

• A)three-quarters
• B)two-thirds
• C)one-half
• D)a majority

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Definitions:

Total Sales

The sum of all revenue generated from the sale of goods or services in a specific period before any deductions.

Exclusive Franchise

A licensing agreement giving a single franchisee the right to be the only provider of the franchisor's product or service in a specific geographical area.

Variable Selling

Variable selling refers to the costs associated with selling products that vary with the level of sales activities, such as commissions and shipping expenses.

Administrative Expense

Costs related to the general operation of a business, including executive salaries, legal and financial fees, and other overhead costs.