Here, the five elements include all of the following except- None of these choices are correct
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What are the five elements of internal control ?</u></h3>
Different internal control systems function with varying degrees of efficacy. A judgment on an internal control system's effectiveness is made after evaluating if each of the five components -
- Control Environment-The tone of an institution is defined by the control environment created by the organization's management, which also has an impact on the individuals who work there.
- Risk Assessment-Every entity must evaluate the many risks it confronts from both internal and external sources. Setting up objectives that are internally consistent and related at various levels is a prerequisite for risk assessment.
- Control Activities-The rules and practices that guarantee management directions are followed are known as control activities. They aid in ensuring that the required steps are made to address risks preventing the entity from achieving its goals.
- Information and Communication-Relevant information must be located, recorded, and disseminated in a way and at a pace that makes it possible for recipients to fulfill their duties. Effective communication must flow up, down, and throughout the company in a wide sense.
- Monitoring-Regular management and supervision tasks, as well as other actions staff members do while carrying out their jobs, constitute ongoing monitoring, which evaluates the effectiveness of internal control system performance.
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It is critical for an organization to understand that eventually a product will go into the decline stage prepare to find replacement products.
<h3>What is the decline stage of the product?</h3>
Decline stage is the last stage of the product life cycle which comes after the after introductory stage, growth stage and maturity stage.
It is the stage when the sales drop and start to decline as original need for the product have diminished.
Decline is also the reason due to the innovation of the new product.
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Manuel is retired and receives a fixed payment from his pension each there is inflation when the buying power of his pension will fall
This is further explained below.
<h3>What is
inflation?</h3>
Generally, Inflation refers to the rate at which prices continue to grow during a certain period of time, and the term may also refer to inflation itself. In most cases, inflation is assessed on a broad scale, such as the overall increase in prices or the growth in the cost of living in a particular nation.
To put inflation in its most basic form, it may be thought of as the general upward trend in the prices of goods and services over time. What this implies is that a dollar spent now won't purchase as much in the future. In other words, it will lower your ability to purchase things in the future.
In conclusion, Manuel is now retired and receives a certain amount from his pension on an annual basis. In the event that there is inflation, Manuel will be able to buy a lesser total amount with his pension money.
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Answer:
Establish project priorities
Explanation:
Option (c) Establish project priorities
The Establish project priorities helps in the smooth running of the project.
It deals with assigning the tasks involved in the project priorities. The priorities are assigned on the basis of the importance, resources required by the particular task, its effect on overall completion time of the project etc.
Answer:
when Thomas received the document of title.
Explanation:
When a contract is formed there has to be an offer and agreement. Bricklay's made an offer by drawing up the title documents and sending them to Thomas.
When Thomas recieves the title deeds he has accepted the offer made by Bricklay's.
So the goods have officially been passed to Thomas even if he had not picked it up