The contribution margin is the:
a. amount at which sales exceed total fixed cost
b. difference between sales and total cost
c. difference between sales and operating income
d. difference between sales and total variable cost
e. difference between variable cost and fixed cost
Answer: d. difference between sales and total variable cost
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Which of the following statements best represents a contractual association between a manufacturer, wholesaler, or service organization and independent businesspeople who buy the right to own and operate one or more units in the system represented by
the contract? A) corporate chain B) franchise C) voluntary chain D) retailer cooperative E) warehouse club
The Central Limit Theorem says that if a number of probability distributions are summed:
A) The standard deviation of the sum equals the sum of the standard deviations. B) The variance of the sum equals the sum of the variances. C) The standard deviation of the sum is greater than the sum of the standard deviations. D) The variance of the sum is less than the sum of the variances.
An express contract mustbe in writing
Indicate whether the statement is true or false
Under the UPA, which of the following liabilities of a partnership has the highest priority for payment out of partnership assets? Amounts owing to:
A) partners for loans and advances B) nonpartner creditors C) partners for profits D) partners for capital