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.

---

Definitions:

Leather Jackets

Durable outerwear made from the skin of animals, primarily cows, known for its style, protection, and warmth.

Utility Function

It represents an individual's preferences over a set of goods and services, specifying the level of satisfaction or utility derived from different combinations of goods and services.

Cocoa

The dried and fully fermented fatty seed of Theobroma cacao, from which cocoa solids and cocoa butter are extracted.

Cheese

A dairy product made from curdled or cultured milk.