Which of the Following Statements Is Not True Regarding the Diversity

question 27

Multiple Choice

Which of the following statements is not true regarding the diversity of entrepreneurs?

• A)Minority-owned businesses have come a long way in the past decade, and their success rate is climbing.
• B)Minority-owned businesses now account for approximately 22 percent of all businesses in the U.S.
• C)Immigrants with more education and experience than those of the past are coming to the U.S. and succeeding in entrepreneurial ventures.
• D)The numbers of part-time and home-based entrepreneurs are rising.

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Definitions:

Labor Efficiency Variance

The difference between the actual hours worked and the standard hours expected to produce a certain amount of goods, multiplied by the standard labor rate, indicating efficiency in labor use.

Variable Overhead Efficiency Variance

The difference between the actual variable overhead incurred and the standard cost allocated, based on the actual production volume.

Materials Quantity Variance

A financial measure that captures the difference between the actual amount of materials used in production and the standard amount expected, multiplied by the standard cost of those materials.

Variable Overhead Rate Variance

The difference between the actual overhead rate incurred and the standard overhead rate that was expected, multiplied by the actual hours worked.