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

Multiple Choice

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