One of the Components of Internal Control,monitoring,refers to the Process

question 16

True/False

One of the components of internal control,monitoring,refers to the process of identifying,capturing,and exchanging information in a timely fashion to enable accomplishment of the organization's objectives.

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Definitions:

Supply Chain

A system consisting of companies, individuals, processes, data, and assets engaged in the transportation of goods or services from the provider to the consumer.

Aggregate Planning

A process in operations management aiming to determine an optimal production plan to meet fluctuating demand in the medium term while minimizing costs.

Subcontracting

The practice of assigning part of the obligations and tasks under a contract to another party, often to specialize in particular tasks or save on costs.

Inventory

Describes the goods and materials that a business holds for the ultimate goal of resale or production.