Which of the Following Are Entity-Wide Components of Internal Control

question 53

Multiple Choice

Which of the following are entity-wide components of internal control that can mitigate the risk of material misstatement related to debt?

• A)Risk assessment.
• B)Information and communication.
• C)Monitoring controls.
• D)All of these are entity-wide components of internal control.

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Definitions:

Collective Bargaining

The process of negotiation between employers and a group of employees aimed at agreements to regulate working salaries, working conditions, benefits, and other aspects of workers' compensation and rights.

Unions

Organizations formed by workers to protect their rights and interests, often engaging in collective bargaining.

Terms of Employment

The conditions under which an employee works, including hours, salary, benefits, and responsibilities.

TOF Timer

A "Timer Off-Delay" type in programmable logic controllers that starts timing when the input turns off and can turn an output on or off after a set delay.