The Concept of Recognizes That Managers Must Use Their Judgment

question 10

Multiple Choice

The concept of recognizes that managers must use their judgment to ensure that the cost of control does not exceed the system's benefits or the risks involved.

• A) competitive intelligence
• B) reasonable assurance
• C) separation of duties
• D) risk assessment

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Definitions:

Tax Revenue

The income that is gained by governments through taxation, which is then used to fund public services and infrastructure.

Medicare

A federal health insurance program in the United States primarily for people aged 65 and older, along with certain younger people with disabilities.

Excise Taxes

Taxes paid when purchases are made on a specific good, such as gasoline or tobacco, often included in the price of the product.

Tax Burden

The measure of the total amount of taxes that individuals, businesses, or other entities must pay.