Match the Following Elements of Internal Control

question 66

Multiple Choice

Match the following elements of internal control:
-Monitoring

• A)Provides reasonable assurance that business goals will be achieved
• B)Used by management for guiding operations and ensuring compliance with requirements
• C)Overall attitude of management and employees
• D)Used to locate weaknesses and improve controls
• E)Identify, analyze, and assess likeliness of vulnerabilities

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Definitions:

Surrounding Circumstances

The context or conditions existing at the time of an action or event, often considered in legal interpretations, negotiations, or contract formations.

Promisor

The party in a contract who makes a promise to perform an obligation to the promisee.

Noncompete Provision

A clause in a contract that prohibits an individual from entering into or starting a similar profession or trade in competition against another party, usually the employer, for a certain period of time.

Pharmacy

A facility or establishment where prescription drugs are prepared and dispensed by licensed professionals, as well as where various healthcare advice may be provided.