Which of the Following Controls Most Likely Would Ensure That

question 11

Multiple Choice

Which of the following controls most likely would ensure that an organization can reconstruct its financial records?

• A)Hardware controls are built into the computer by the computer manufacturer.
• B)Backup files are stored in a location separate from original copies.
• C)Personnel who are independent of data input perform parallel simulations.
• D)System flowcharts provide accurate descriptions of computer operations.

Recognize the relationship between price changes and total revenue, especially in terms of elasticity.

Understand the income elasticity of demand and how it differs from price elasticity.

Learn to distinguish between short-run and long-run elasticities and their implications.

Understand how changes in supply affect market equilibrium and total expenditures.