The Definition of Internal Control Developed by the Committee of Sponsoring

question 16

Multiple Choice

The definition of internal control developed by the Committee of Sponsoring Organizations (COSO) includes controls related to the reliability of financial reporting,the effectiveness and efficiency of operations,and:

• A)Compliance with applicable laws and regulations.
• B)Effectiveness of prevention of fraudulent occurrences.
• C)Safeguarding of entity equity.
• D)Incorporation of ethical business practice standards.

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Definitions:

Counterconditioning

A behavior therapy technique where a maladaptive response to a stimulus is replaced with a more desirable one.

Aversive Conditioning

A type of conditioning that uses negative stimuli to invoke a change in behavior, creating an association between the behavior and undesirable outcomes.

Classical Conditioning

The act of learning via establishing relationships between a stimulus present in one's surroundings and one that occurs instinctively.

Electroconvulsive Therapy

A medical treatment involving the administration of electrical currents to the brain to induce seizures, used primarily to treat severe depression and bipolar disorder.