Examples of Entity-Level Controls Include

question 5

Multiple Choice

Examples of entity-level controls include:

• A)management's risk assessment process.
• B)controls to monitor results of operations.
• C)the period-end financial reporting process.
• D)All of these are examples of entity-level controls.

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Definitions:

Probability Distribution

A probability distribution is a statistical function that describes all the possible values and likelihoods that a random variable can take within a given range.

NPV

Net Present Value; a method used in capital budgeting to evaluate the profitability of an investment or project, calculating the net difference between present value of cash inflows and outflows over a period.

IRR

Stands for Internal Rate of Return, a metric used in financial analysis to estimate the profitability of potential investments.

Scenario Analysis

A process of analyzing possible future events by considering alternative possible outcomes (scenarios).