When Francesca,age 62,discovered That Her Retirement Plan Had Suffered Losses

question 37

Multiple Choice

When Francesca,age 62,discovered that her retirement plan had suffered losses in the stock market,she realized that she would not be able to retired within the next year as she had expected to do.After she learned of her predicament,Francesca met with a financial consultant provided by her company,and she has decided to postpone her retirement by just two years.She hopes that the economy will improve and the additional years of work will help her to achieve her financial goals.Which of the following is an accurate description of Francesca's coping at this point?

• A)She is using a problem-focused mechanism.
• B)She is using an emotion-focused mechanism.
• C)She is using a primary control strategy.
• D)She is just being practical,she is not using a copy strategy.

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Definitions:

Internal Control

Initiatives and standards implemented by a firm to assure the correctness of financial and accountancy details, encourage integrity, and obstruct fraudulent activities.

Journal Entries

The method by which all business transactions are initially recorded, using a system of debits and credits, to maintain the financial records of an entity.

Segregation Of Duties

A key internal control that prevents fraud and errors by ensuring that no single individual has control over all aspects of a financial transaction.

Custody

The protective care or guardianship of someone or something, often referring to the control over assets or minors.