Briefly Describe Three Other Important Forces That Are Changing the Current

question 36

Essay

Briefly describe three other important forces that are changing the current environment for accounting and auditing services.

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Definitions:

Marginal Revenue

Additional earnings received from the sale of one more unit of a product or service.

Marginal Cost

The financial commitment for manufacturing an additional unit of a product or service.

Profits

The financial gain obtained when the revenues earned from business activities exceed the expenses, costs, and taxes needed to sustain those activities.

Unregulated Monopoly

A market structure where a single company or entity dominates the market without any governmental restrictions or oversight.