Which of the Following Is Not One of the fundamental

question 89

Multiple Choice

Which of the following is not one of the fundamental concepts in the COSO report's definition of internal control?

• A) Internal control is a process.
• B) Internal control is effected by people.
• C) Internal control is a guarantee.
• D) Internal control can be expected to provide only reasonable assurance, not absolute assurance, to an entity's management and board.
• E) Internal control is geared to the achievement of objectives in the overlapping categories of financial reporting, compliance, and operations.

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Definitions:

Highly Contagious

Highly contagious describes a disease or condition that is easily spread from one person to another through direct contact or proximity.

Prognosis

A medical judgment regarding the likely course and outcome of a disease or ailment.

Disorder Prognosis

The predicted outcome or forecast of the progression of a disease or disorder, including chances of recovery.

Recovery Prospects

the likelihood or chances of making a full or partial recovery from an illness or injury.