The Following Is a List of 10 Control Plans

question 65

Essay

The following is a list of 10 control plans.

Required:
Listed below are ten system failures that have control implications.On the blank line to the left of each number,insert the capital letter from the list above of the best control plan to prevent the system failure from occurring.If you can't find a control that will prevent the failure,choose a detective or corrective control plan.A letter should be used only once.

Distinguish between efficient, inefficient, and unattainable points on the production possibilities frontier.

Explain the concept of opportunity cost in decision-making.

Understand how employment levels relate to economic production and efficiency.

Assess the impacts of entrepreneurship and resource assembly on economic outcomes.

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Definitions:

Acceptance

In contract law, the expression by the offeree of their agreement to the terms of the offer, forming a legally binding contract.

Merchants

Businesses or individuals engaged in the sale of goods, particularly in a specialized market.

Communication

In a contract, an offer made to the offeree or the offeree’s agent.

Consumer Lease

is a contract where an individual leases goods for personal, family, or household purposes for a set period of time.