COBIT's Enablers Include People, Skills and Competencies

question 21

Multiple Choice

COBIT's enablers include people, skills and competencies.According to the AICPA, broad business perspective competencies needed by accounting professionals include:

• A)legal and global
• B)legal and measurement
• C)global and measurement
• D)legal, global and measurement

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Definitions:

Inventory Account

An account used to record the value of inventory held by a business, including goods ready for sale and those in the process of being produced.

Subsidiary Inventory Ledger

The subsidiary ledger containing individual accounts for items of inventory.

Safeguarding Inventory

Measures and controls implemented by a company to protect its inventory from theft, damage, and mismanagement.

Financial Statements

Reports that provide an overview of a company's financial condition, including the balance sheet, income statement, and cash flow statement.