Each of the Following Is a Component of Internal Control

question 2

Multiple Choice

Each of the following is a component of internal control under SAS 55 except for:

• A)The control environment
• B)Risk assessment
• C)Control activities
• D)Transparency

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Definitions:

Contingency Table

A table used in statistics to display the frequency distribution of variables, showing the observed number of cases in each category.

Nominal Data

Data categorized without a natural order or ranking among the categories, such as gender or race.

Squared Difference

The result of squaring the difference between two values, often used in statistical calculations like variance.

Proportions

A statistical measure that reflects the fraction of the total number of items in a particular category.