Which of the Following Is NOT a Component of the COSO

question 7

Multiple Choice

Which of the following is NOT a component of the COSO Enterprise Risk Framework?

• A)Risk assessment
• B)Risk review
• C)Internal environment
• D)Information and communication
• E)Control activities

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Definitions:

Unsecured Creditors

Unsecured creditors are entities or individuals to whom money is owed but who have no collateral, security, or lien on any assets of the borrower.

Total Assets

The sum of all assets a company owns, as stated on the balance sheet, including current, fixed, intangible, and other types of assets.

Statement Of Realization And Liquidation

A financial statement prepared during the liquidation process, outlining the process of converting assets into cash and settling debts.

Unsecured Non-priority Creditor

A creditor who does not have a claim on specific collateral and ranks below secured and priority creditors for repayment in case of debtor's bankruptcy.