The AICPA Trust Services Principles State That the Customer Should

question 93

True/False

The AICPA Trust Services Principles state that the customer should be given the choice regarding the collection and retention of data.

---

Definitions:

Monopoly Power

The degree of power held by a singular entity to control prices or exclude competition within a market.

Natural Monopoly

A market condition where a single firm can supply a good or service to an entire market more efficiently than multiple firms due to high fixed or startup costs.

Economies Of Scale

The cost advantage that arises with increased output of a product, as fixed costs are spread over more units of production, reducing the cost per unit.

Diseconomies Of Scale

An increase in average total cost as output rises.