Which of the following is a disadvantage associated with sole proprietorships?
A. Raising money to finance growth can be tough for business owners.
B. Taxes are levied directly on the earnings of business owners.
C. Controlling power cannot be retained by the business owners.
D. The costs of formation of a firm are more compared to other business forms.
Answer: A
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The omission known as change blindness occurs when ________.
A. a decision maker wants to bring about a change on a whim B. decision makers fail to notice gradual changes over time C. a sudden change is overlooked by decision makers D. decision makers are adamant on maintaining status quo due to a fear of change
The first stage in the hierarchy of effects is _____
a. awareness b. knowledge c. liking d. desire
Which of the following would you not find on a traditional income statement?
A) Net operating income B) Gross profit C) Contribution margin D) Sales revenue
Perfect Builders makes all sorts of moldings. Its standard quantity of material allowed is 1 foot of wood per 1 foot of molding at a standard price of $2.00 per foot. During August, it purchased 500,000 feet of wood at a cost of $1.90 per foot, which produced only 499,000 feet of molding. Calculate the materials price variance and the materials usage variance, respectively
A) $50,000 F and $2,000 U B) $49,900 U and $2,000 F C) $50,000 F and $1,900 U D) $49,900 F and $1,900 U