The COSO Framework Identifies Three Objectives of Internal Control That

question 88

Multiple Choice

The COSO Framework identifies three objectives of internal control that allow organizations to focus on the differing purposes of internal control.One of these is ________.

• A)client acceptance and continuance
• B)compliance objectives which pertain to adherence to laws and regulations to which the entity is subject
• C)internal control analysis
• D)risk of material misstatement

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Definitions:

Holding Outputs

The act of retaining finished goods or services before they are sold or delivered to the next stage of the supply chain or to customers.

Assembly Line

A manufacturing approach in which items are sequentially joined to create a finished product in an efficient way.

Shift

The period during which a set of workers is scheduled to work, or the action of changing the position, direction, or focus of something.