Which of the Following Describes the Internal Control Component "Risk

question 142

Multiple Choice

Which of the following describes the internal control component "risk assessment?"

• A)Internal auditors monitor company controls to safeguard assets, and external auditors monitor the controls to ensure that the accounting records are accurate.
• B)Risk assessment is the "tone at the top" of the business.
• C)A company must identify its risks and take necessary steps to minimize it.
• D)Risk assessment is designed to ensure that the business's goals are achieved.

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Definitions:

Entrepreneurial Leadership

A leadership style that combines the innovation and risk-taking of entrepreneurship with the management skills necessary to lead an organization.

Seeing Opportunities

The ability to identify and act upon chances for personal or business growth, innovation, or improvement.

Creative Idea

A Creative Idea refers to a novel and useful concept, solution, or insight that seeks to address a problem, improve a situation, or generate value in an innovative way.

Original Thinking

The ability to conceive new and innovative ideas that are not solely based on existing concepts or practices.