Before any internal control procedure is initiated, which of the following questions must be primarily addressed by a company?
A) Will this put an end to theft?
B) Is this the best security money can buy?
C) How much benefit will be derived from the cost of the procedure?
D) Will this prevent accounting errors?
C
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Which of the following sales-related function is the least visible but most important?
A. Installation and delivery B. Special product design and engineering C. Repair and maintenance D. Information gathering E. Order processing and expediting
Why is there unequal knowledge and bargaining power in the insurance transaction?
A) The complexity of the insurance contract and the intangible nature of the product B) The insurance companies want to confuse consumers so it is difficult to make choices. C) Consumers do not receive the policy until months after the contract goes into effect. D) There is no competition in the industry, therefore the consumer is stuck with inferior products.