Answer:
C. less than 1
Explanation:
Supply is elastic if producers can increase output without a rise in cost or a time delay which means Price elasticity of supply is more than 1.
Supply is inelastic if producers find it hard to change production in a given time period which means Price elasticity of supply is less than 1.
When Price elasticity of supply equals 0 then supply is perfectly inelastic.
Answer:
The correct answer is letter "B": Order Qualifier.
Explanation:
An Order Qualifier represents the minimum features a good or service must meet so consumers can think about purchasing them. Variables that could fall into this category are price, convenience or the product's reputation. If the good or service accomplishes one of those characteristics and is of preference of the consumers, then the firm has an order winner.
Answer:
Option C Cash Flow Prospects.
Explanation:
The cash flow prospect shows that lending the firm money will increase its performance or not and also that the company is generating enough cash flows that it will be paying returns and principle amount on time. If the cash flwo prospect shows that the company will not be delivering value because it is already struggling with its cash flows issues. Then the money lender will not be interested in paying the company because the company might not pay back the returns and the principle amount.
Answer: Moderate or low
Explanation:
Tests of Control are one by auditors to determine the effectiveness of the internal controls in the company in being able to detect accounting errors and anomalies.
If a company seems to have a moderate or low inherent risk the Auditors may or may not initiate Tests of Control due to this reduced risk.
If the company however, has either high or moderate or unusually high risk, the Auditors have to perform Tests of Control to determine where the company is going wrong.
