The three functions of business which MIS infrastructure supports includes;
1. Support information change.
2. Business continuity planning.
3. Change.
MIS means that Management Information System. There are MIS infrastructure components which are sustainable.
For example, Virtualization, Grid computing, and cloud computing.
Answer:
D. The auditor should assess the risks of material mis-statement due to fraud.
Explanation:
At the time of auditor visit in a company the financial statement represent that the company has done the fraud in this scenario, the auditor should analyze the material misstatement risk that is done for fraud
Therefore in the given case, the option D is correct as the auditor responsibility is that he or she should analyze the risk with respect to the false statements presented in the financial statement
Answer:
During each phase of the economic cycle of Recession and Expansion, the following economic variables fluctuate, accordingly:
I. Output: During Recession, production output reduces. But, during expansion, product output rises with rising income, employment, and even stable inflation.
II. Employment: During phases of economic Expansion, employment rises, while it contracts during the phases of Recession.
III. Inflation: Due to rising income and output during economic expansionary periods, inflation rate also rises. It reduces when the economy enters a recession.
Explanation:
Business or Economic Cycle describes the recurrent, but not periodic, sequence of changes in the aggregate economic activities of a nation. It usually cascades between the spectrum of expansion and recession. This means that there is an alternation of the phases of economic cycle between expansion and contraction (recession) when the aggregate economic activities may rise or decline due to the equal movement of economic variables like the GDP output, employment, income, and sales.
Answer: cost
Explanation: In simple words, cost refers to the total amount of resources used by an organisation for preparing its relative commodity to sell it to the ultimate customer. It is the sum of expenses incurred for the generation of revenue.
It is the total outflow of resources,therefore , the producers often use it for setting prices so that they can generate the amount of profit they are targeting for.
Hence we can conclude that the correct answer is cost.
