Which of the Following Best Describes the Purpose of Control

question 32

Multiple Choice

Which of the following best describes the purpose of control activities?

• A)The actions, policies and procedures that reflect the overall attitudes of management
• B)The identification and analysis of risks relevant to the preparation of financial statements
• C)The policies and procedures that help ensure that necessary actions are taken to address risks to the achievement of the entity's objectives
• D)Activities that deal with the ongoing assessment of the quality of internal control by management

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Definitions:

Agent

An individual or entity authorized to act on behalf of another person or entity in contractual or legal matters.

Liquidation

The process of bringing a business to an end and distributing its assets to claimants, often in the context of bankruptcy.

Corporate Assets

Items of value owned by a corporation, including physical items as well as intangible rights and resources.

Distributed

The process or state of spreading or dispersing something more widely.