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.

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Definitions:

Gastrocnemius

A major calf muscle that is involved in walking, running, and jumping, attaching to the heel through the Achilles tendon.

Fibularis Longus

A muscle in the lateral compartment of the lower leg that everts and plantarflexes the foot.

Tibialis Anterior

A muscle in the front of the leg that helps in dorsiflexion and inversion of the foot.

Extensor Digitorum Longus

A muscle in the lower leg that helps to extend the toes and dorsiflex the foot.