Answer:
a. The power and influence of industry driving forces
Explanation:
As per Michael Porter, there exist five competitive forces that influence competition in an industry. The five forces as per Porter are:
- Potential entrants
- Industry competitors
- Customers
- Substitutes
- Suppliers
Potential entrants refers to the risk of new entrants in the market.
Industry competitors refers to the extent of rivalry and competition between existing firms.
Customers relate to the negotiating or bargaining power of the customers and to what extent they exercise such power.
Substitutes refer to the emergence of substitute products in the market which may drive down a firm's sales.
Suppliers relate to the bargaining power exercised by suppliers with respect to inputs.
Is called collusion
It's actually price collusion to be precise ( not to be mistaken for the crime collusion)
Often time, to attract customers, sellers will offer a lower price than their competitor. Though it may attract more customer, it will lower their profit.
In price collusion, all sellers is guaranteed to have same product price and profit margin, creating a perfect competition market for that product
Answer:when governments want to spend more than they collect in taxes, central banks increase the money supply at a rate higher than GDP growth, often resulting in hyperinflation
Explanation:
The business manager has the only key to the check-signing equipment. Restrict access.
The purchasing manager orders all goods and services for the business. Establish responsibility.
A bank reconciliation is prepared monthly. Document procedures.
Prenumbered checks are used for all payments. Independently verify.
The company asks suppliers to deliver their merchandise to the warehouse but mail their invoices to the accounting department. Segregate duties.
<u>Explanation:</u>
Great internal controls are basic to guaranteeing the achievement of objectives and targets. They give solid money related answering to the executives choices. Great inward controls help guarantee proficient and powerful activities that achieve the objectives of the unit and still ensure representatives and resources.
The seven internal control procedures are separation of duties, access controls, physical audits, standardized documentation, trial balances, periodic reconciliations, and approval authority.
