One of the Components of Internal Control Identified by COSO

question 44

Multiple Choice

One of the components of internal control identified by COSO required that management must be considering threats and the potential for risks, and stand ready to respond should these events occur.This component is referred to as:

• A)Control Environment
• B)Control Activities
• C)Risk Assessment
• D)Communication

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Definitions:

Shoplifting

The act of stealing goods from a retail establishment, typically by concealing items and leaving the store without paying for them.

Anti-Theft Posters

Visual or printed materials designed to deter people from committing theft by warning of consequences or invoking moral considerations.

Demographic Variables

Characteristics of populations or segments used in research, such as age, gender, income level, education, and ethnicity.

Helping Behaviour

Actions taken to provide assistance or benefit to another individual or group without expectation of reward.