Applying the COBIT5 Framework,governance Is the Responsibility of

question 1

Multiple Choice

Applying the COBIT5 framework,governance is the responsibility of

• A)internal audit.
• B)external audit.
• C)management.
• D)the board of directors.

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Definitions:

10-K Report

An annual comprehensive report filed by publicly traded companies in the United States, detailing their financial performance, required by the SEC.

LIFO Layers

An inventory valuation method where the last items placed in inventory are the first ones to be recorded as sold.

Profit Margin

A financial ratio that indicates the percentage of revenue that exceeds the costs of goods sold, showing how much profit is made on sales.

FIFO

Stands for "first in, first out," an inventory valuation method where the goods first added to inventory are the first ones to be sold.