The Control Environment Component of Internal Control Includes All of the Following

question 82

Multiple Choice

The control environment component of internal control includes all of the following except:

• A)Management's philosophy and operating style.
• B)Access to computer programs.
• C)Organizational structure.
• D)Human resource policies and practices.

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Definitions:

Tangible Asset

Physical and material assets that can be seen, touched, or quantified, such as machinery, buildings, and inventory.

Goodwill

The intangible asset that arises when a business is acquired for more than the fair value of its net identifiable assets.

GAAP

Generally Accepted Accounting Principles; a collection of standardized guidelines and practices for financial accounting used in a particular jurisdiction.