Benchmarking Is Appropriate When

question 3

Multiple Choice

Benchmarking is appropriate when:

• A) client ITGC are strong.
• B) client application controls are operating effectively.
• C) the application program has not changed.
• D) All of the above.

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Definitions:

Pure Competition

A market format where there are many sellers presenting the same products, and none of these sellers are able to affect the market price on their own.

Unique Product

A product that is different from others in the market due to distinctive features, design, or attributes that make it stand out.

No Close Substitutes

A market condition where a good or service has no similar alternatives, giving it a unique position and potentially more market power.

Market Model

A theoretical construct that describes how different types of markets operate and interact.