For a Business to Be Considered a Corporation,it Must

question 13

Multiple Choice

For a business to be considered a corporation,it must:

• A)be owned by an extremely large number of people.
• B)be organized as a separate legal entity.
• C)sell publicly traded shares.
• D)all of the answers are acceptable.

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Definitions:

Standard Costs

Predetermined costs that are used as benchmarks against which actual costs are compared.

Kilograms

A unit of mass in the metric system, equivalent to 1,000 grams, used globally for measuring weight.

Per Hour

A rate or measurement that denotes something occurring or calculated over the course of an hour.

Material Variance

The difference between the actual cost of materials used in production and the standard cost expected.