Having Different People Approve and Make Payments Is an Example

question 56

True/False

Having different people approve and make payments is an example of an independent check of performance control activity over cash payments.

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Definitions:

Marginal Social Benefit

The incremental value for society resulting from the creation of an additional unit of a good or service.

Marginal Social Cost

The comprehensive expense to society for producing an extra unit of a good or service, encompassing both individual costs and external ones.

Pollution

The introduction of contaminants into the natural environment, causing adverse change.

Efficient Rate

The optimal point at which the cost of undertaking an activity is minimized and productivity is maximized.