Consider the Following Statements as You Respond to the Question

question 41

Multiple Choice

Consider the following statements as you respond to the question:
i.Ask managers to think of one hundred uses for a brick, other than for building things.ii.Assess the educational background and organizational experience of employees.iii.Conduct a one-day seminar on how business processes can create value in the marketplace.iv.Encourage managers to suggest ideas, even if they are impractical.v.Hold weekly meetings to update interested parties on the BPM project; ensure at least one member of top management attends each meeting.vi.Ignore opinions and insights from people not directly involved with a business process.The text discussed seven basic principles of business process management.Which of the following both illustrates one of the principles and relates to the event identification component of the COSO enterprise risk management framework?

• A)I
• B)IV
• C)Both I and IV
• D)Neither I nor IV

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Definitions:

Current Assets

Current assets are all assets that a company expects to convert to cash or use up within one year.

Current Liabilities

Current liabilities are a company's liabilities that are due within one fiscal year or the operating cycle, whichever is longer, and include debts such as accounts payable and short-term loans.

Sales Taxes

Taxes imposed by governments on the sale of goods and services, usually calculated as a percentage of the sale price.

Current Ratio

A liquidity ratio that measures a company's ability to pay short-term obligations or those due within one year, calculated as current assets divided by current liabilities.