According to COSO, Internal Control Is A

question 69

Multiple Choice

According to COSO, internal control is a:

• A)Process.
• B)Set of rules.
• C)Responsibility of employees only.
• D)Requirement only for publicly-traded firms.

---

Definitions:

Moral Obligations

Ethical duties or commitments that arise from principles of right and wrong behavior.

Desires

Strong feelings of wanting or wishing for something to happen or be obtained.

Maxim

A general truth, fundamental principle, or rule of conduct expressed in a concise and often pithy statement.

Categorical Imperative

A foundational concept in the moral philosophy of Immanuel Kant, which prescribes actions as universally mandatory, based on their maxims being capable of becoming universal law.