Which Component of the ERM Framework Is Best Described Here

question 39

Multiple Choice

Which component of the ERM framework is best described here: Internal and external events affecting achievement of an entity's objectives must be identified, distinguishing between risks and opportunities. Opportunities are channeled back to management's strategy or objective-setting processes.

• A) control activities
• B) event identification
• C) risk assessment
• D) risk response

Distinguish between employees and independent contractors based on legal definitions and implications.

Recognize the legal authority and responsibilities of agents acting on behalf of principals.

Identify the legal doctrines related to employment, including employment at will and exceptions to it.

Understand the concept of ratification and its significance in the context of agency and employment law.

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Definitions:

Duchenne Muscular Dystrophy

Genetic disorder that is characterized by a wasting of muscle tissue; displays an X-linked recessive pattern of inheritance.

Sex-Linked Diseases

Disorders that are determined by genes located on sex chromosomes, often affecting one sex more than the other.

Genotype

The genetic makeup of an organism, consisting of all the DNA and genes.

Dominant Trait

A trait that is expressed or visible when a gene variant (allele) is present, even when its counterpart allele is a different variant.