The COSO ERM Framework Encourages a Review of Risks as They

question 53

Multiple Choice

The COSO ERM framework encourages a review of risks as they apply to achieving firms' objectives.Which of the following is not one of the listed categories of objectives to be considered?

• A)Environment.
• B)Operations.
• C)Strategic.
• D)Compliance.

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Definitions:

Gross Profit

Gross profit is a company's total revenue minus the cost of goods sold, representing the profit from its core business operations.

Cost of Goods Sold

The direct cost attributable to the production of the goods sold in a company, including materials and labor.

Advertising Expense

The costs incurred in promoting products or services through various media channels to increase sales or awareness.

Freight-in

Costs associated with shipping goods into a business, considered a part of inventory costs.