Which of the Following Is a Key Element of Good

question 44

Multiple Choice

Which of the following is a key element of good internal control?

• A)having latest version of information system installed
• B)having audits at periodic intervals
• C)having a good working environment for employees
• D)allowing no vacations and job rotations

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Definitions:

Expected Price Level

The price level consumers, producers, and investors anticipate in the future, influencing their economic decisions in the present.

Wage Bargaining

The negotiation process between employees (or their representatives) and employers regarding the terms of employment, focusing primarily on salary or wage levels.

Long Run

A period in which all factors of production and costs are variable, and firms can adjust all inputs.

Short-Run Aggregate Supply Curve

A graphical representation that shows the relationship between the total production of goods and services in an economy at different price levels in the short run, indicating how much output is supplied by firms at various prices.