Ernst & Young,an international accounting and management consulting company,entered Hungary first by establishing a joint venture with a local firm. Ernst & Young later acquired the company with which it had the alliance. Which type of entity did Ernst & Young then have in Hungary?
A)a franchise
B)a licensing arrangement
C)a cooperative contract
D)a wholly owned affiliate

Question

Ernst & Young,an international accounting and management consulting company,entered Hungary first by establishing a joint venture with a local firm. Ernst & Young later acquired the company with which it had the alliance. Which type of entity did Ernst & Young then have in Hungary?
A)a franchise  
B)a licensing arrangement  
C)a cooperative contract  
D)a wholly owned affiliate

Quizplus · Accepted Answer

Since Ernst & Young acquired the company with which it had the alliance, it became a wholly owned affiliate in Hungary.

Ernst & Young,an International Accounting and Management Consulting Company,entered Hungary