The Human Resources Element of Quality Control in a Public

question 42

Multiple Choice

The human resources element of quality control in a public accounting firm includes which of the following?

• A) Supervision appropriate for the competencies of the personnel assigned to the work is important.
• B) Professional development should be provided so that personnel will have the knowledge required to enable them to fulfill their responsibilities.
• C) People at all organizational levels must maintain independence in fact and appearance.
• D) When accepting and continuing client relationships, firms should consider their own competence.

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Definitions:

Foreign Exchange

The exchange of one currency for another or the conversion of one currency into another currency.

Imperfectly Competitive

A market structure where not all participants have equal ability to influence prices, with variations in products and control.

Marginal Revenue

The additional revenue that will be generated by increasing product sales by one unit.

Output

Output refers to the quantity of goods or services produced by a company, industry, or economy within a certain period.