Which of the Following Statements Related to the COSO Report

question 4

Multiple Choice

Which of the following statements related to the COSO report is false?

• A)The COSO report provided the standard definition of internal control accepted be the accounting industry.
• B)The COSO report is commonly known as the Internal Control Integrated Framework.
• C)The COSO report has not been updated since it was issued in 1992.
• D)The COSO report was the result of a comprehensive study of interest control.

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Definitions:

Ratification

The formal validation of a proposed law or constitutional amendment, usually by vote or consent of authorized legislative bodies or through a referendum.

National Bill

A legislative proposal debated and adopted by a national body, such as a parliament, to become a law.

Aristocratic Senate

A legislative body or chamber that is comprised of members of the aristocracy, typically representing privilege, inherited titles, or elevated social status.

Anti-Federalists

Individuals who opposed the ratification of the United States Constitution, fearing a too powerful central government.