A Process by Which Organizations Select Objectives, Establish Processes to Achieve

question 127

Multiple Choice

A process by which organizations select objectives, establish processes to achieve objectives, and monitor performance is:

• A) enterprise risk management
• B) internal control
• C) organizational governance
• D) risk assessment

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Definitions:

Specially Manufactured Goods

Items that are produced to a buyer's personal specifications, which are not suitable for sale to others in the ordinary course of the seller's business.

Promissory Estoppel

A legal doctrine that prevents a party from withdrawing a promise made to another party if the latter has relied upon that promise to their detriment.

Oral Contracts

Agreements between parties that are spoken rather than written but are still legally binding.

Real Estate Mortgage

A legal agreement where real property is used as collateral for a loan.