Business Rules Are Unrelated to COSO Control Activities,although They Serve

question 14

True/False

Business rules are unrelated to COSO control activities,although they serve an important purpose.

---

Definitions:

Innocent Misrepresentation

A false statement made by someone who believed it to be true, leading another party to enter into a contract.

Misrepresentation

Misrepresentation is the providing of false or misleading information that induces another party to enter into a contract, potentially leading to legal consequences.

Duress

Duress refers to a situation where a person performs an act as a result of violence, threat, or other pressures against them, which can invalidate any agreement made under such conditions.

Non Est Factum

A legal defense claiming a signed agreement is invalid because the signer was unaware of its true nature due to a mistake or misrepresentation.