Which of the Five Elements of Internal Controls Is Least

question 33

Multiple Choice

Which of the five elements of internal controls is least effective in preventing fraud in e-commerce?

• A) Monitoring
• B) the control environment
• C) risk assessment
• D) control activities and procedures

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Definitions:

Shut Down

In economics, a short-run decision not to produce anything during a specific period because of current market conditions.

Short Run

A period in which at least one factor of production is fixed, and firms can adjust only to a limited set of variables.

TR < TVC

This expression denotes a situation where Total Revenue (TR) is less than Total Variable Costs (TVC), indicating a loss-making scenario for the business.

Minimum AVC

The lowest point of the average variable cost curve where each unit of production is at its cheapest.