Which Organization Issued the Internal Control, Integrated Framework Which Serves

question 97

Multiple Choice

Which organization issued the Internal Control, Integrated Framework which serves as the primary criterion for evaluating the quality of a company's internal control system?

• A) PCAOB.
• B) COSO.
• C) AICPA.
• D) GAO.

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Definitions:

Electronic Funds Transfers

The electronic transfer of money from one bank account to another, either within a single financial institution or across multiple institutions, via computer-based systems.

POS

Point Of Sale; a system used at retail locations to manage sales, inventory, and customer transactions.

Identification Card

A personal document issued by a competent authority that serves to identify the person named on it, typically including personal data and often a photo.

ATM Card

A plastic card issued by a bank allowing the cardholder to withdraw cash from automated teller machines.