A _____ Is a Business in Which the Owner of a Business

question 63

Multiple Choice

A _____ is a business in which the owner of a business sells to another the right to operate the same business in another location.

• A) non-profit organization
• B) franchise
• C) joint venture
• D) family business
• E) wholly-owned subsidiary

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Definitions:

Dividends

Financial distributions to a corporation's shareholders, usually coming from the business's earnings.

Quantity Variance

A variance that is computed by taking the difference between the actual quantity of the input used and the amount of the input that should have been used for the actual level of output and multiplying the result by the standard price of the input.

Standard Quantity

The expected or planned amount of materials or inputs required for the production of a unit of product, based on efficient operations.

Actual Quantity

The real amount or volume of inputs used in the production process, as opposed to the amount budgeted or planned.