Which of the Following Is an Element of an Effective

question 124

Multiple Choice

Which of the following is an element of an effective plan for crisis management?

• A) A communication plan that indicates that the company is in complete control.
• B) Competitive actions to bounce back immediately.
• C) Psychological and cultural actions for the human and emotional toll.
• D) A template for a press statement, to be released before details are learned.
• E) A method to quickly distance the company from the crisis.

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Definitions:

Segregation of Duties

An internal control measure that involves dividing responsibilities among different people to reduce the risk of error or inappropriate actions in financial transactions.

Authorize and Pay

The process of approving financial transactions or disbursements and executing the payment accordingly.

Control Principle

An accounting principle that states the need for procedures and measures to regulate and ensure the accuracy of financial records.

Segregation of Duties

A key internal control mechanism that involves dividing responsibilities within an organization to reduce the risk of fraud or error.