ISA 235 Chapter 2 questions with complete solution graded A+

operational level - Employees develop, control, and maintain core business activities required to run the day-to-day operations. structured decision - Involves situations where established processes offer potential solutions. managerial level - Employees are continuously evaluating company operations to hone the firm's abilities to identify, adapt to, and leveragechange. semistructured decision - 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 - Managers develop overall business strategies, goals, and objectives as part of the company's strategic plan. unstructured decision - Occurs in situations in which no procedures or rules exist to guide decision makers toward the correct choice. project - Temporary activity a company undertakes to create a unique product, service, or result. metrics - Measurements that evaluate results to determine whether a project is meeting its goals. critical success factors (CSFs) - Crucial steps companies perform to achieve their goals and objectives and implement their strategies. key performance indicators (KPIs) - Quantifiable metrics a company uses to evaluate progress towards critical success factors. market share - The proportion of the market that a firm captures.