ELE Quiz 4 with 100% complete
solutions graded A+
Which of the following is considered a variable expense? - correct answer ✔✔ raw materials
____ is the amount owners have invested and/ or retained from the venture operations: -
correct answer ✔✔ owners equity
Fixed expenses: - correct answer ✔✔ are incurred regardless of sales volume.
In which form of organization does the owner have greatest control - correct answer ✔✔ sole
proprietorship
The ______ imposes oversight responsibilities on members of the board of directors - correct
answer ✔✔ Sarbanes-Oxley
In which phase of the SBIR grant process are funds used to create a prototype of a product or
service? - correct answer ✔✔ Phase II
True or False: Can flow is the same thing as profit - correct answer ✔✔ False
Equipment would be included on the balance sheet in which section? - correct answer ✔✔ fixed
assets
Compensation for board members can take the form of all of the following except: - correct
answer ✔✔ perks such as vacations
solutions graded A+
Which of the following is considered a variable expense? - correct answer ✔✔ raw materials
____ is the amount owners have invested and/ or retained from the venture operations: -
correct answer ✔✔ owners equity
Fixed expenses: - correct answer ✔✔ are incurred regardless of sales volume.
In which form of organization does the owner have greatest control - correct answer ✔✔ sole
proprietorship
The ______ imposes oversight responsibilities on members of the board of directors - correct
answer ✔✔ Sarbanes-Oxley
In which phase of the SBIR grant process are funds used to create a prototype of a product or
service? - correct answer ✔✔ Phase II
True or False: Can flow is the same thing as profit - correct answer ✔✔ False
Equipment would be included on the balance sheet in which section? - correct answer ✔✔ fixed
assets
Compensation for board members can take the form of all of the following except: - correct
answer ✔✔ perks such as vacations
