Management Safeguards Assets by

question 20

Multiple Choice

Management safeguards assets by

• A)having the internal auditors conduct periodic counts of physical assets.
• B)controlling access and by comparing physical items to records.
• C)requiring the external auditors to do surprise audits.
• D)having management sign a management representation letter.

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Definitions:

Discriminatory Pricing

The practice of charging different prices for the same product or service to different consumers, especially in a manner considered unfair or unethical.

Corporate Espionage

The practice of secretly gathering proprietary or confidential information from competitors or other businesses for competitive advantage.

Sustained Price Cuts

A strategic reduction in the prices of goods or services, maintained over a long period, to attract more customers or gain a competitive advantage.

Anticompetitive Strategies

Practices implemented by businesses to reduce competition, potentially leading to monopolies or unfair market advantages.