ISA 235 Chapter 2 questions with correct answers

operational level Answer Employees develop, control, and maintain core business activities required to run the day-to-day operations. structured decision Answer Involves situations where established processes offer potential solutions. managerial level Answer Employees are continuously evaluating company operations to hone the firm's abilities to identify, adapt to, and leveragechange. semistructured decision Answer Occurs in situations in which a few established processes help to evaluate potential solutions, but not enough to lead to a definite recommended decision. strategic level Answer Managers develop overall business strategies, goals, and objectives as part of the company's strategic plan. unstructured decision Answer Occurs in situations in which no procedures or rules exist to guide decision makers toward the correct choice. project Answer Temporary activity a company undertakes to create a unique product, service, or result. metrics Answer Measurements that evaluate results to determine whether a project is meeting its goals.