All of the Following Refer to the Competence of the Internal

question 1

Multiple Choice

All of the following refer to the competence of the internal audit function except:

• A)the party in the entity to which the internal audit function reports.
• B)the quality of internal audit documents and reports.
• C)professional certification.
• D)supervision and review of internal audit activities.

Comprehend how network externalities impact market concentration and efficiency.

Understand the conditions under which a monopoly maximizes its profits, including how to determine optimal output levels and pricing strategies.

Gain insight into the societal impacts of monopolies, including potential societal losses and the role of rent-seeking activities in monopoly profits.

Understand the relationship between marginal cost, average cost, and profit maximization for monopolies.

---

Definitions:

Supportive Leadership

A leadership style that focuses on building trust, encouragement, and empathy towards members to boost morale and job satisfaction.

House's Path-Goal

A leadership theory that suggests leaders can increase subordinate satisfaction and performance by clarifying and clearing the paths to their goals, taking into account the work environment and the characteristics of the employees.

Worker Self-Confidence

The belief employees have in their own abilities to carry out tasks and achieve goals.

Substitutes for Leadership

Factors or conditions that make the direct leadership less necessary or irrelevant, such as highly routine jobs or comprehensive work processes.