Raj, an Employee at TRS Corporation, Was Preparing a Risk/control

question 25

Multiple Choice

Raj, an employee at TRS Corporation, was preparing a risk/control matrix related to the steps in the accounting cycle.The first row of the matrix contained the following entries: Adequate training.Assets that should be reported at historical cost are reported at market value.Human error.Internal audits.Which two items would appear in the same column in the matrix?

• A)Adequate training and human error
• B)Human error and internal audits
• C)Adequate training and internal audits
• D)None.For a given risk, each column can have only one entry.

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Definitions:

The New Science

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The Abstract Mind

The abstract mind encompasses the cognitive ability to understand concepts that are not directly related to concrete physical experiences or objects.

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The examination of one's own thoughts and feelings, a reflective process that is internal and subjective.

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