______________________________ Are Business Process Objectives That an Internal Control System

question 79

Short Answer

______________________________ are business process objectives that an internal control system is designed to achieve.

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Definitions:

Fundamental Breach

A serious violation of a contract that permits the aggrieved party to terminate the agreement and seek damages.

Exculpatory Clause

A contract provision that relieves one party of liability if damages are caused during the execution of the contract.

Performance

Completion by both parties of the terms of a contract.

Substantial Performance

Performance of a contract in all but a minor aspect of it.