Nestor and Maureen Are Partners in a Small Consulting Firm

question 23

Multiple Choice

Nestor and Maureen are partners in a small consulting firm located in the Republic of Bufflufia; the firm has six employees.For the last five years, the firm has focused on tax planning and tax return preparation.But, Nestor and Maureen are now interested in expanding the firm's scope of services.They are considering risk management consulting, fraud examination and business valuation as potential areas to expand the firm.They are sure at least three of their six employees would put effort into at least one of those three areas, but expanding the firm's services would require additional training for everyone.Based on the short case above, which of the following statements is most true?

• A)An enterprise risk management plan will be required only if they decide to expand into risk management consulting.
• B)Nestor and Maureen need to increase their own valence.
• C)Both an enterprise risk management plan will be required only if they decide to expand into risk management consulting and Nestor and Maureen need to increase their own valence are true.
• D)Neither an enterprise risk management plan will be required only if they decide to expand into risk management consulting nor Nestor and Maureen need to increase their own valence is true.

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Definitions:

Structural Functionalism

A theoretical perspective that sees society as a complex system whose parts work together to promote solidarity and stability.

Symbolic Interactionism

Focuses on interaction in microlevel social settings and emphasizes that an adequate explanation of social behaviour requires understanding of the subjective meanings people attach to their social circumstances.

Homogenizing Effects

The process by which diverse elements are made uniform or similar, often observed in cultures, markets, and technologies.

Dependency

A situation in which a person or group relies on another for support, often creating a power imbalance and vulnerability.