What do we call firms that invest in a variety of different product markets to reduce exposure to risk in single product markets?
a. Investment firms
b. Diversified firms
c. Monopolies
d. Oligopolies
b. Diversified firms
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In a professional services firm, the term "overhead" refers to:
a. Expenses other than professional labor that can be traced to specific jobs. b. Indirect labor costs. c. Indirect expenses incurred to support the activities of the firm. d. Indirect expenses incurred in the factory.
Good strategy plus good strategy execution equals good management. True or false? Justify and explain your answer.
What will be an ideal response?
Andrews Corporation uses the weighted-average method of process costing. The following information is available for February in its Polishing Department: Equivalent units of production-direct materials 110,000EUPEquivalent units of production-conversion 95,000EUPCosts in beginning Work in Process-direct materials$49,000 Costs in beginning Work in Process-conversion$36,000 Costs incurred in February-direct materials$414,000 Costs incurred in February-conversion 520,000 The cost per equivalent unit of production for direct materials is:
A. $5.05 B. $4.21 C. $4.97 D. $9.26 E. $5.85
Net sales divided by average total assets is the:
A. Total asset turnover. B. Sales return ratio. C. Return on total assets. D. Current ratio. E. Profit margin.