Regarding the Cost-Benefit Concept,which of the Following Statements Is True

question 57

Multiple Choice

Regarding the cost-benefit concept,which of the following statements is true?

• A)Every control procedure that offers benefits to a company should be implemented into the company's system
• B)An optimal internal control package is developed for a company's system by implementing a standardized package of control procedures
• C)A control procedure is considered cost effective if it can be determined that the cost of operating the procedure will be lower in the current period than in the previous period
• D)A control procedure is considered cost effective when its anticipated benefits exceed its anticipated costs

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Definitions:

Biological Processes

Natural operations or functions related to living organisms and their components.

Construct

An intellectual hypothesis that we devise and use to interpret or explain life events. Constructs are bipolar, or dichotomous, such as tall versus short or honest versus dishonest.

Reality

The state or quality of having existence or substance, often distinguished from illusions or fantasies.

Theory

A system of ideas intended to explain something, based on general principles independent of the thing to be explained.