A Company's Internal Control System

question 181

Multiple Choice

A company's internal control system:

• A) Eliminates the company's risk of loss.
• B) Monitors company and employee performance.
• C) Eliminates human error.
• D) Eliminates the need for audits.
• E) Eliminates the need for managers' certification of controls.

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Definitions:

Population Decrease

A reduction in the number of people in a specific area, often due to factors like decreasing birth rates or emigration.

Land Supply

Land supply refers to the total quantity of land that is available for use or development in a particular area.

Factor's Price

The cost of utilizing factors of production like labor, land, and capital in the process of manufacturing.

Factor's Marginal Product

The additional output that results from the use of one more unit of a production factor, holding other factors constant.