Which of the Following Factors Suggest That Control Risk Should

question 94

Multiple Choice

Which of the following factors suggest that control risk should be assessed at a low level?

• A)A lack of segregation of duties.
• B)A lack of approval for significant transactions.
• C)A competent objective internal auditor.
• D)Both A and C.

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Definitions:

Budget Line

A graphical representation of all possible combinations of two goods which can be purchased with a given budget and prices.

Two-Product Case

A scenario in economic analysis focusing on the effects of changes in production levels, costs, and demand for two products simultaneously.

Change in Income

A variation in an individual's or household's earnings over a specific time frame.

Utility-Maximizing Rule

An economic principle that guides consumers to allocate their income in a way that maximizes their overall satisfaction.