Bender Day 3

Question 1

What is true about a product that is price unit elastic?

Answer 1

An increase in price will have no effect on total revenue

MCQ-03520

Question 2

What risk can be minimized by requiring all employees to use passwords?

Answer 2

Firewall Vulnerability

The primary purpose of a firewall is to prevent unauthorized access

MCQ-04827

Question 3

What is the purpose of transfer pricing?

Answer 3

Transferring as much cost to the country with the highest tax burden - thus lowering over all taxes by having more expenses

MCQ-14821

Question 4

What is the difference between a balanced scorecard and SWOT Analysis?

Answer 4

SWOT evaluates internal and external factors that contribute to success

MCQ-03750

Question 5

Michaels Portors five forces

Answer 5

1. Barriers to entry
2. Market competitiveness
3. Existence of substitutes
4. Bargaining power of customers
5. Bargaining power of suppliers

note: existence of complement goods is not a force

MCQ-04877

Question 6

Under Oligopoly structure, strategic plans focus on?

Answer 6

Maintaining the market share, Ensuring product differentiation, and adapting to changes in price and production volume

MCQ-03493

Question 7

According to COSO, which of the following components of IC address the Entity’s financial reporting objectives

Answer 7

The risk assessment

MCQ-04391