Presented Below Is a List of Terms Relating to Accounting

question 102

Short Answer

Presented below is a list of terms relating to accounting information systems,followed by definitions of those terms.
Required: Match the letter next to each definition with the appropriate term.Each answer will be used only once.
________ 1.FCPA
________ 2.Audit committee
________ 3.Collusion
________ 4.Application controls matrix
________ 5.Internal auditing
________ 6.Control environment
________ 7.Cancellation
________ 8.Statutory sanction
________ 9.Format check
________ 10.Endorsement
A.Has responsibility for reviewing the reports of the company's external auditors
B.The identification of documents to prevent their repeated use
C.A type of exposure
D.A law which requires publicly held companies to maintain adequate accounting systems
E.One of the main components of internal control
F.Agreement or conspiracy among two or more people to commit fraud
G.An example of this procedure is: all characters in the vendor number field are numeric
H.A technique for internal control analysis
I.Marking a form or document to restrict its further processing
J.An example of the monitoring component

Comprehend the significance of make-or-buy decisions in a firm's supply-chain strategy.

Understand the role of integration strategies such as backward and forward integration in supply-chain management.

Grasp the importance of inventory management and the impact of the supply chain on a firm's cost strategy.

Recognize the relevance of supply-chain management in service firms and the implications for outsourcing and offshoring.

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Definitions:

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, leading to market stability.

Tax on Sellers

A tax on sellers is a levy imposed by the government on sellers of certain goods and services, which often leads to a shift in supply curve and price adjustments.

Increases Supply

A rise in the quantity of a good or service that producers are willing and able to sell at a given price, often due to reductions in production costs or improvements in technology.

Tax on Sellers

A financial charge imposed by the government on sellers, which can shift the supply curve upward and affect market equilibrium.