The Internal Auditing Standards Board Issues Statements on Internal Auditing

question 27

True/False

The Internal Auditing Standards Board issues Statements on Internal Auditing Standards.

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Definitions:

Inland Marine Insurance

An insurance contract that covers goods that are moved by land carriers such as rail, truck, and airplane.

Land Carriers

Companies or entities that transport goods or people over land, such as by road or rail.

Goods

All things (other than money, stocks, and bonds) that are movable.

Insurable Interest

A stake in the value of an entity or event for which an insurance policy is purchased to mitigate risk of loss.