All of the Following Are Examples of Internal Control Procedures

question 80

Multiple Choice

All of the following are examples of internal control procedures except

• A) using prenumbered documents.
• B) reconciling the bank statement.
• C) customer satisfaction surveys.
• D) insistence that employees take vacations.

Understand the concept of long-run adjustments in purely competitive markets including entry and exit of firms.

Comprehend that in the long run, purely competitive markets yield zero economic profits due to the entry or exit of firms.

Recognize the conditions under which firms will either enter or leave purely competitive markets.

Identify the characteristics and outcomes of constant-cost, increasing-cost, and decreasing-cost industries in the long run.