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:

Self Fluctuates

The concept that an individual's perception of self or identity can change or vary over time.

Across Situations

A term indicating variability or consistency of certain behaviors or phenomena in different environments or contexts.

Self-concept

An individual's perception and evaluation of themselves, encompassing beliefs, feelings, and thoughts about one's identity and abilities.

Self-esteem

An individual's subjective evaluation of their own worth or value.