Because the Procurement Business Process Generates Revenue Amounts That Are

question 98

True/False

Because the procurement business process generates revenue amounts that are considered to be significant accounts,disclosures,and assertions on a company's income statement,risk assessment of the procurement business process is necessary for compliance with Sarbanes-Oxley.

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Definitions:

Entity

In accounting and finance, an entity refers to any organization, company, or individual that has a distinct existence for legal or tax purposes.

Highly Aggregated

A term describing data that has been compiled into large groups or categories, often to provide a broad overview.

Managerial Accounting

The process of identifying, measuring, analyzing, interpreting, and communicating financial information to managers for pursuing an organization's goals.

Business Organizations

Entities formed to conduct commercial activities, ranging from sole proprietorships to corporations with various operational and legal structures.