A Normative Statement

question 79

Multiple Choice

A normative statement

• A)is one that involves a value judgment.
• B)has no place in the study and practice of economics.
• C)concerns what is provable.
• D)can be derived logically from facts.
• E)is a statement that is empirically testable.

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Definitions:

Internal Control

A system of policies and procedures implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Employees Rotated

A process where employees are moved between different jobs or tasks to gain experience, reduce monotony, or improve workforce flexibility.

Monthly Bank Statements

Detailed financial statements provided by banks, summarizing account activity, balances, and other financial transactions for each month.

Endorsing

Endorsing involves signing the back of a check or other negotiable instruments to make it payable to someone other than the original payee or to authorize its use.