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:

Cash Inflow

The movement of money into a business or project, contributing to its financial resources.

Payment to Suppliers

Financial transactions that involve settling debts with vendors who provide goods or services to a business.

Dividends

Payments made by a corporation to its shareholder members, usually derived from the company's profits.

Backlog

Orders that have been received but not delivered to the customer.