Management's Report on Internal Controls Must Include Each of the Following

question 38

Multiple Choice

Management's report on internal controls must include each of the following except

• A) A statement that management is responsible for establishing and maintaining adequate internal control over financial reporting.
• B) A statement identifying the framework management uses to evaluate the effectiveness of the company's internal control.
• C) A statement providing management's assessment of the effectiveness of the company's internal control.
• D) A statement providing management's evaluation of the company's control environment.

---

Definitions:

Phallic

Pertains to the third stage in Freud's psychosexual development theory, focusing on the pleasure center around the genital area during the ages of 3 to 6 years.

Anal Character

A term from psychoanalytic theory referring to a personality type resulting from a fixation at the anal stage of development, characterized by orderliness, stubbornness, and a focus on control.

Oral Character

A personality type in psychoanalytic theory associated with issues in the oral stage of development, such as dependency.

Phallic Stage

In psychoanalytic theory, the stage of psychosexual development from about 4 to 7 years of age in which the physical focus of the libido is the penis (for boys) and its absence (for girls).