Using the COSO Definition of an Event,an Event Represents Uncertainty

question 19

True/False

Using the COSO definition of an event,an event represents uncertainty.

---

Definitions:

Guests

Individuals who receive services or hospitality, often in contexts such as hotels, events, or restaurants.

Cost Drivers

Factors that cause a change in the cost of an activity, used in activity-based costing to allocate costs based on the actual consumption of each activity.

Vocational School

An educational institution that focuses on teaching students specific trade skills or vocations rather than providing a general academic education.

Planning Budget

A budget prepared for a specific level of activity; it outlines expected revenues, expenses, and other financial parameters for a future period.