All of the Following Are Characteristics of a Closely Held

question 35

Multiple Choice

All of the following are characteristics of a closely held corporation EXCEPT

• A)the shares are publicly traded.
• B)the corporation can typically operate without a board of directors.
• C)the shareholders usually restrict share transfer.
• D)minority shareholders are provided more protection than in regular corporations.

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Definitions:

Direct Labour Variance

The difference between the actual direct labor costs incurred and the standard costs for the actual production achieved.

Direct Labour Standards

Benchmarks for the amount of labor time that is expected to be necessary to produce a unit of product or to complete a process.

Total Cost

The complete cost of production, including both fixed and variable costs.

Standard Wage Rate

The predefined hourly rate paid to employees for their labor, often based on industry standards, experience, and job role.