Nolwenn Limited Has Been Diligent in Ensuring That Their Operations

question 101

Multiple Choice

Nolwenn Limited has been diligent in ensuring that their operations meet modern control standards.Recently,they have extended their control compliance system by incorporating policies and procedures that require the specification of company objectives,uncertainties associated with objectives,and contingency plans.Nolwenn Limited is transitioning from a ________ to a ________ control framework.

• A)COSO-Integrated Framework;COBIT
• B)COBIT;COSO-Integrated Framework
• C)COBIT;COSO-ERM
• D)COSO-Integrated Framework;COSO-ERM
• E)COSO-ERM;COBIT

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Definitions:

Account Receivable

Money owed to a company by its debtors for goods or services that have been delivered or sold but not yet paid for.

Subsidiary Ledgers

Detailed ledgers that provide a breakdown of individual accounts that are summarized in the general ledger.

Customers Ledger

A subsidiary ledger containing individual accounts for customers, showing each customer's sales, payments, returns, and the current balance owed.

Creditors Ledger

A ledger that keeps records of the amounts owed by the business to its suppliers or creditors.