The COSO Enterprise Risk Management Framework Comprises Eight Sections, One

question 58

Multiple Choice

The COSO enterprise risk management framework comprises eight sections, one of which is objective setting.COSO identified five types of objectives most organizations should consider in developing an ERM plan."Completing SEC filings within thirty days of the fiscal year end" is an example of a ___ objective.

• A)Strategic
• B)Reporting
• C)Risk management
• D)Control activity

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Definitions:

Normal Probability Distribution

A type of continuous probability distribution that is symmetrical around its mean, representing how random variables are distributed in many natural phenomena.

Sampling Distribution

Describes the distribution of a statistic (like the mean or variance) based on random samples from a larger population.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how much the values in the dataset deviate from the mean.

Standard Error

The typical deviation within the distribution of samples for a statistic, often specifically of the mean.