Consider the Following Short Case as You Respond to the Next

question 47

Multiple Choice

Consider the following short case as you respond to the next nine questions: ABC Consulting's employees include management, consultants and office staff. The company accepts engagements related to internal control design and evaluation, as well as enterprise risk management plans. A customer can purchase the two services independently of one another. The office staff bills clients on a monthly basis with terms of 2 / 10, n / 30. All consulting clients must sign a contract, which is also signed by an ABC manager. One member of ABC's management team assigns at least one consultant to work with the customer until the engagement is complete. Consultants can be assigned to multiple engagements simultaneously, but every consultant must always be working on at least one engagement. Each client may have only one contract with ABC at a time.In a REA model of the case, events would include:

• A)Sign contract
• B)Assign employees
• C)Bill customer
• D)All of the above

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Definitions:

Accountability

The obligation to explain, justify, and take responsibility for one’s actions in a professional or personal context, often within the structure of an organization or public service.

Qualifications

The credentials, education, skills, and experience that make an individual suitable for a specific job or task.

Stereotype

An extensively accepted yet uncomplicated and unchanging notion or representation of a specific sort of individual or thing.

Hiring

The process of reviewing applications, conducting interviews, and selecting candidates to fill job positions.