Which of the Following Are Entity-Wide Components of Internal Control

question 103

Multiple Choice

Which of the following are entity-wide components of internal control that can mitigate the risk material misstatement related to debt obligations?

• A) Risk assessment.
• B) Information and communication.
• C) Monitoring controls.
• D) All of these are entity-wide components of internal control.

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Definitions:

Unilateral Contracts

A contract in which one party makes a promise in exchange for an act by another party, which if performed, binds the offeror to the contract.

Invitations

Offers or calls to someone to do something or go somewhere, often used in the context of events, meetings, or parties.

Advertisements

Public notices promoting products, services, or events through various media channels to attract consumer attention and generate sales.

Definiteness

The quality of being clear, precise, and well-defined in terms or conditions.