Which Statement Is Correct Concerning the Definition of Internal Control

question 18

Multiple Choice

Which statement is correct concerning the definition of internal control developed by the Committee of Sponsoring Organizations (COSO) ?

• A)Its applicability is largely limited to internal auditing applications.
• B)It is a 'process' effected by individuals.
• C)It emphasizes the effectiveness and efficiency of operations over the reliability of financial reporting.
• D)It suggests that it is important to view internal control as an end product as contrasted to a process or means to obtain an end.

Understand the key components and importance of information in supply chain management.

Comprehend the implications of sourcing decisions on supply chain performance.

Calculate and interpret key financial and operational metrics.

Grasp the role of forecasting and aggregate planning in managing supply chain operations.

---

Definitions:

Legal Systems

The comprehensive set of rules and principles that govern a society, including laws, regulations, and judicial decisions.

Ethical

Relating to moral principles or the branch of knowledge dealing with these, often guiding conduct in a manner considered right or acceptable.

International Business

Commercial transactions that occur across national borders, involving the exchange of goods, services, or information.

High-context

A communication style where much of the information is understood through context, non-verbal cues, and shared experiences rather than explicitly stated in the message.