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:

Canada

A country located in the northern part of North America, characterized by vast landscapes, diverse cultures, and two official languages, English and French.

Functionalist Perspective

A theory in sociology that views society as a complex system whose parts work together to promote solidarity and stability.

Conflict Perspective

A theoretical framework in sociology that emphasizes the role of power disparities and competition in shaping social relations and institutions.

Symbolic Interactionist Perspective

A theoretical approach in sociology that focuses on the meanings individuals attribute to objects, events, and behaviors, and how these meanings influence social interactions.