Which of the Following Changes in the Business Environment Have

question 11

Multiple Choice

Which of the following changes in the business environment have led to more complicated relationships and business structures?

• A) Rapid advances in technology
• B) Increases in outsourcing and reliance on various forms of business networks
• C) Increased global mobility in labour
• D) Reliance on creating mutually strategic business alliances

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Definitions:

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the expected (or standard) variable overhead allocated, based on activity level.

Lubricants

Substances applied to reduce friction between surfaces in mutual contact, which ultimately reduces the heat generated when the surfaces move.

Variable Manufacturing Overhead

Costs that vary with the level of production output and include expenses such as indirect materials, supplies, and utilities used in manufacturing.

Variable Overhead Efficiency Variance

The difference between the actual variable overhead incurred and the expected variable overhead based on efficient operations.