According to the COSO Definition, Internal Control Should Promote ___

question 9

Multiple Choice

According to the COSO definition, internal control should promote ___ in financial reporting.

• A)Truth
• B)Accuracy
• C)Both A and B
• D)Neither A nor B

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Definitions:

Cash Flows

The movement of money into and out of a business, representing earnings and expenditures.

Internal Rate

Often referring to the Internal Rate of Return (IRR), it's the discount rate that makes the net present value (NPV) of all cash flows from a particular project equal to zero.

Cash Flows

The total amount of money being transferred into and out of a business, especially as affecting liquidity.

Outlay

The amount of money spent on a particular expense or investment.