Match the Following Terms with Their Correct Definitions

question 115

Multiple Choice

Match the following terms with their correct definitions.
-possible external threats to the organization's success in accomplishing its goals

• A)accounting system
• B)business process risks
• C)control activities
• D)control environment
• E)internal control system
• F)safeguarding
• G)segregation of duties
• H)strategic risks

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Definitions:

Competitive Price-Taker

An enterprise that is unable to dictate the market price and thus must conform to the current market price for its offerings.

Monopoly

A market structure where a single supplier dominates the market, often leading to higher prices and less innovation due to lack of competition.

Profit-Maximizing Monopolist

A single seller in a market that determines the quantity of goods to produce and sell in order to achieve the highest possible profits.

Total Cost Schedules

A tabulation or curve that shows the total cost incurred by a firm at each level of output produced.