Consider the Following Short Case as You Respond to the Question

question 44

Multiple Choice

Consider the following short case as you respond to the question: Amanda is a partner in a CPA firm; she supervises a staff of ten professionals, some of whom are already licensed CPAs and some of whom are still working toward licensure.She is responsible for audits of independent bookstores in California, Nevada and Arizona.Amanda is concerned that the less experienced professionals she supervises are repeating the mistakes she and the more experienced professionals on her team made when they began auditing.She therefore wants to create a knowledge management system.Consider the following comments Amanda could make after purchasing or building appropriate tools for knowledge management.Which of them best demonstrates that she understands the seven steps in creating a knowledge management system?

• A)I'm glad that's over.Now that the system is designed, we don't have to think about it again.
• B)We can monitor the system in the same ways we monitor our internal control plan.
• C)Now that the system is created, we need to determine its value for balance sheet purposes.
• D)I can be assured now that relapse errors are a thing of the past.

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Definitions:

Conflict Resolved

The process or outcome whereby a dispute or disagreement between parties is settled or solved.

Collaborating Conflict Handling Style

An approach to conflict resolution where parties involved work together cooperatively to find a mutually beneficial solution.

Training Seminar

An educational or training session focused on specific topics or skills, designed to improve participants' knowledge or performance.

Creative Solution

An innovative or imaginative problem-solving approach that is often unconventional and yields unexpected results.