Which of the Following Describes the Risk Assessment Component of Internal

question 102

Multiple Choice

Which of the following describes the risk assessment component of internal control?

• A) Internal auditors monitor company controls to safeguard assets, and external auditors monitor the controls to ensure that the accounting records are accurate.
• B) Risk assessment is the "tone at the top" of the business.
• C) A company must identify its risks and take necessary steps to minimize them.
• D) Risk assessment is designed to ensure that the business's goals are achieved.

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Definitions:

Themes

Underlying subjects or motifs that serve as foundational elements of a story, artwork, or concept.

High School Reunion

An event where former classmates gather to reconnect and reminisce about their time spent together during high school years.

Old Friends

Long-standing relationships that often provide comfort, support, and a sense of history.

Childhood Amnesia

The phenomenon where most people cannot recall personal events from the first few years of their life.