Which Statement Is Correct Concerning the Definition of Internal Control

question 8

Multiple Choice

Which statement is correct concerning the definition of internal control developed by the Committee of Sponsoring Organizations (COSO) ?

• A)Its applicability is largely limited to internal auditing applications.
• B)It is recognized in the Statements on Auditing Standards.
• C)It emphasizes the effectiveness and efficiency of operations over the reliability of financial reporting.
• D)It suggests that it is important to view internal control as an end product as contrasted to a process or means to obtain an end.

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Definitions:

Water Velocity

The speed at which water flows in a given direction within a river, stream, or other body of water.

Downstream

In the direction that a stream or river flows, from its source towards its mouth, often used to describe areas or processes occurring in this direction.

Sediment Load

The amount of sediment carried by a river, stream, or other body of moving water, which can affect water quality and ecosystem health.

Stream Velocity

The speed at which water flows in a stream or river, typically measured in meters per second.