The Internal Control Structure of the ERM Does NOT Include

question 57

Multiple Choice

The internal control structure of the ERM does NOT include:

• A)Risk assessment
• B)Risk response
• C)Control activities
• D)Resource management

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Definitions:

Factors of Production

The resources used in the creation of goods and services, traditionally categorized into land, labor, capital, and entrepreneurship.

Coordinate Economic Activity

The process of organizing and managing various facets of the economy to ensure efficient and effective functioning.

Technology Used

Refers to the application of scientific and technical knowledge to production processes to improve efficiency, increase output, or create new products.

Quantity and Quality

Refers to the amount and the standard of a product or service, indicating its overall value or suitability.