Which One of the Following Statements Regarding Internal Control Is

question 14

Multiple Choice

Which one of the following statements regarding internal control is true?

• A) Companies can design a system of internal control that is foolproof.
• B) A well-designed internal control system is a luxury that few companies can afford.
• C) It is easier to implement an effective internal control system in a small company because of the limited number of employees.
• D) Large companies are able to devote a substantial amount of resources to internal control systems because these companies have the assets to justify the cost.

Understand the adjustments in the economy following shifts in expectations about future prices and their impact on wage bargaining.

Assess the interaction between monetary policy, aggregate demand, and long-run economic equilibrium.

Understanding of short-run and long-run equilibrium in the economy.

Knowledge of factors that cause shifts in aggregate supply and demand.

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Definitions:

Organizational Culture

The unwritten, collective mindset and values that influence how people within an organization interact and work together.

Dysfunctions

Negative consequences or undesirable effects that result from organizational behaviors or structures.

Feldman's Organizational Socialization

A framework describing how new employees acquire the necessary knowledge, behaviors, and skills to become effective organizational members.

Anticipatory Socialization

The process through which people learn and adopt the norms, values, and behaviors necessary for a role they will assume in the future.