According to the COSO Definition of Safeguarding of Assets

question 13

Multiple Choice

According to the COSO definition of safeguarding of assets

• A) Controls over financial reporting are effective if they provide reasonable assurance that asset losses will not occur.
• B) Controls over financial reporting are effective if they provide reasonable assurance that losses are properly reflected in the financial statements.
• C) Controls over financial reporting are effective if they provide reasonable assurance that asset losses will not occur and that losses are properly reflected in the financial statements.
• D) There is no way to create controls that will provide reasonable assurance that asset losses will not occur.

---

Definitions:

Attribution

The process of inferring the causes behind behaviors and events, which can influence how individuals understand and interact with their environment.

Experimenter Bias

A form of bias introduced by the experimenter whose expectations about the outcome of the experiment can be subtly communicated to the participants.

Researchers Blind

A method used in studies where researchers are kept unaware of key aspects of the research, such as which participants belong to the control or experimental group, to prevent bias.

External Validity

The extent to which the results of a study can be generalized to other situations and to other people.