The Organization Selects,develops,and Performs Ongoing And/or Separate Evaluations to Ascertain

question 9

Essay

The organization selects,develops,and performs ongoing and/or separate evaluations to ascertain whether the components of internal control are present and functioning. Ongoing evaluation are procedures built into the normal recurring activities of an entity.Separate evaluations are conducted periodically,typically by objective management personnel,internal auditors,or external consultants. 2.The organization evaluates and communicates internal control deficiencies in a timely manner to those parties responsible for taking corrective action,including senior management and the board of directors,as appropriate.

Identify different types of government assistance programs and their objectives.

Comprehend the determination and implications of the poverty line.

Compare income distribution and inequality among countries and over time within the U.S.

Analyze the impact of income redistribution on societal welfare and individual utility.

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Definitions:

Recessionary Period

A time characterized by economic decline across the economy, lasting more than a few months, typically visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.

Inflation

A general increase in prices and fall in the purchasing value of money.

Inventories

Producers’ stocks of finished and in-process goods.

Economic Fluctuations

Variations in the economic activity of a country over time, including periods of growth (expansions) and decline (recessions).