The Information and Communication Component of Internal Control Includes Which

question 6

Multiple Choice

The information and communication component of internal control includes which of the following?

• A)The organization deploys control activities through policies that establish what is expected and in procedures that put policies into action.
• B)The organization obtains or generates and uses relevant,quality information to support the functioning of other components of internal control.
• C)The organization identifies and assesses changes that could significantly impact the system of internal control.
• D)All of the above.

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Definitions:

Monopoly Behavior

Practices by a firm that holds a monopoly position, typically involving the use of its market power to restrict competition and control market prices.

Antitrust

Laws and regulations designed to promote fair competition and prevent monopolies and other unfair business practices.

U.S. Steel Case

A landmark antitrust case involving the United States Steel Corporation, representing significant legal and regulatory actions in American industrial history.

Illegal Price-Fixing

An unlawful agreement between competitors to set prices at a certain level, generally resulting in unfair competition and higher prices for consumers.