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. As a result Ernst & Young then had a(n)__________ in Hungary.

Question

Quizplus · Accepted Answer

A wholly owned affiliate is defined as foreign offices, facilities, and manufacturing plants that are owned by the parent company.

Ernst & Young, an International Accounting and Management Consulting Company