________ Remains After Management Implements Internal Control(s)

question 32

Multiple Choice

________ remains after management implements internal control(s) .

• A)Inherent risk
• B)Residual risk
• C)Risk appetite
• D)Risk assessment

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Definitions:

Written Warranty

A written warranty is a legally binding guarantee issued by a manufacturer or seller to a buyer, promising to repair or replace the product if necessary within a specified period.

Consumer Goods

Products and commodities produced for and sold to individuals for personal or household use.

Readily Understandable Language

Language that is easily comprehensible to a general audience without specialized knowledge.

Breach of Warranty

The failure to fulfill the terms of a promise or guarantee made about the quality or condition of a product or service.