Thomas Is in Charge of Taking Formal Minutes During an Institute

question 6

Multiple Choice

Thomas is in charge of taking formal minutes during an Institute of Internal Auditors chapter meeting. Which of the following is the best advice for him to follow as he prepares these minutes?

• A)Record only new business because old business will appear in previous minutes.
• B)Avoid using the exact wording of motions because that would be too time consuming.
• C)Record voting results and actions taken.
• D)Omit his name and signature as the person recording the minutes because he is acting on behalf of the organization.

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Definitions:

Marginal Revenue

The extra revenue a company earns by selling an additional unit of a product or service.

Output Level

The quantity of goods or services produced by a business, industry, or economy at a given time.

Consumer Surplus

The gap in the total amount consumers are ready and capable of investing in a service or good and the actual outlay they make.