According to COBIT 5, an Organization's Information Technology Governance and Management

question 29

Multiple Choice

According to COBIT 5, an organization's information technology governance and management should apply a single integrated framework for managing information.Which of the following best pairs an established framework with an element of the framework?

• A)FASB Conceptual Framework of Accounting, qualitative characteristics of internal control
• B)FASB Conceptual Framework of Accounting, elements of financial statements
• C)Both FASB Conceptual Framework of Accounting, qualitative characteristics of internal control and FASB Conceptual Framework of Accounting, elements of financial statements
• D)Neither FASB Conceptual Framework of Accounting, qualitative characteristics of internal control nor FASB Conceptual Framework of Accounting, elements of financial statements

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Definitions:

Loanable Funds

The funds available within an economy for borrowing, which consist of household savings, business savings, and any government surplus.

Consumption

The process by which goods and services are used up or utilized, reflecting household spending on such goods and services.

Investment Tax Credit

A tax credit offered by the government to encourage businesses to invest in certain assets by allowing them to deduct a portion of the investment cost from their taxes.

Loanable Funds

The market in which savers supply funds to borrowers who want to borrow, influencing interest rates and overall economic activity.