Match the Following Terms with Their Correct Definitions

question 103

Multiple Choice

Match the following terms with their correct definitions.
-collective term for procedures put into place to ensure that employees operate within the scope of their assigned responsibilities and act for the good of the business

• 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

Define the significance and application of masked moves and comparison instructions.

Describe the process and importance of monitoring and controlling physical processes through PLCs.

Understand the various stages of the decision-making process and identify which actions correspond to each stage.

Recognize the importance of ethical considerations in decision-making.

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Definitions:

Low Returns

Financial returns from an investment that are below expectations or the market average.

Monopoly Firms

Companies that are the sole providers of a product or service in a market, facing no competition.

Barriers of Entry

Obstacles that make it difficult for new competitors to enter a market, including high startup costs, strict regulations, and established brand loyalty.

Cost Advantage

The benefit gained by a company when it produces goods or services at a lower cost compared to its competitors.