LLC's are taxed at both the entity level and at the owner level.

With respect to the regulation of variable contracts and those who sell them, which of the following statements is most accurate?

A) Variable contracts and their distribution are regulated exclusively by the Department of Insurance because state regulation supersedes federal regulation. B) Variable contracts and their distribution are regulated separately (often with conflicting regulatory demands) by the Department of Insurance, the SEC, and FINRA. C) Variable contracts and their distribution are regulated separately but in a fairly coordinated fashion between the Department of Insurance, the SEC, and FINRA D) Variable contracts and their distribution are regulated exclusively by the Securities Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) because federal regulation supersedes state regulation."

Franz Colruyt has achieved low-cost leadership through:

A) effective use of voice mail. B) plastic, not paper, shopping bags. C) background music that subtly encourages shoppers to buy more. D) converting factories, garages, and theaters into retail outlets. E) exclusive use of the Euro.