Which of the Following Is Not a Direct Benefit of Control

question 225

Multiple Choice

Which of the following is not a direct benefit of control self-assessment (CSA) ?

• A) CSA allows management to have input into the audit plan.
• B) CSA allows process owners to identify, evaluate, and recommend improving control deficiencies.
• C) CSA can improve the control environment.
• D) CSA increases control consciousness.

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Definitions:

Chattel Paper

A document or electronic record indicating both a monetary obligation and a security interest in or a lease of specific goods.

Monetary Obligation

A required payment of money owed by one party to another, typically defined by the terms of a contract or agreement.

Security Interest

A legal claim or lien on collateral or property, given by the borrower to the lender, to secure repayment of a loan.

Purchase-Money Security Interest

A legal claim that allows a lender to repossess or foreclose on property financed through debt if the borrower defaults, specifically relating to the item purchased.