Which of the Following Is Not One of the Risk

question 30

Multiple Choice

Which of the following is not one of the risk responses identified in the COSO Enterprise Risk Management Framework?

• A) Monitoring
• B) Avoidance
• C) Acceptance
• D) Sharing

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Definitions:

Estate Planning

The process of making advance arrangements for the disposal of an individual's estate, often to minimize taxes and legal complications.

Intestate

The condition of having died without a valid will, leading to the distribution of the deceased's estate according to state laws.

Probate

A rephrased definition: The court-supervised process of authenticating a deceased person’s will, settling their debts, and distributing their estate to the rightful heirs.

Incorporation by Reference

A method where a document includes by reference all or portions of another document, making the referenced material part of the new document.