Internal Control Is So Important to an Organization That Cost/benefit

question 140

True/False

Internal control is so important to an organization that cost/benefit relationship can be ignored.

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Definitions:

Physical Inputs

The tangible resources or materials used in the production of goods and services.

Demand Curve

A graphical representation of the relationship between the price of a good and the quantity demanded.

Quantity Demanded

The total amount of a good or service that consumers are willing to buy at a given price over a specified period.

Economists

Economists are experts who study how societies use scarce resources to produce valuable commodities and distribute them among different people.