Concept of Inflation âž– Inflation in economics refers to the general increase in the price level of goods and services in an economy over a period of time. When inflation occurs, each unit of currency buys fewer goods and services than it did before, resulting in a decrease in purchasing power. Key Concepts Related to
The Time Value of Money (TVM) means that money today is worth more than the same amount in the future because it can grow if invested. For example, Rs 100 today can become Rs 110 after one year with interest, and Rs 121 after two years. This shows that money can increase over time when
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A PRIMARY benefit derived from an organization employing control self-assessment (CSA) techniques is that it: A. A can identify high-risk areas that might need a detailed review later B. allows IS auditors to independently assess risk C. can be used as a replacement for traditional audits D. allows management to relinquish responsibility for control.
A. scheduling may be performed months in advance B. budgets are more likely to be met by the IS audit staff C. staff will be exposed to a variety of technologies D. resources are allocated to the areas of highest concern
