The Information and Communication Component of Internal Control Includes Which

question 6

Multiple Choice

The information and communication component of internal control includes which of the following?

• A)The organization deploys control activities through policies that establish what is expected and in procedures that put policies into action.
• B)The organization obtains or generates and uses relevant,quality information to support the functioning of other components of internal control.
• C)The organization identifies and assesses changes that could significantly impact the system of internal control.
• D)All of the above.

Comprehend the requirements and conditions under which a contract can be rescinded due to misrepresentation.

Recognize the difference between concealment and nondisclosure in contract law.

Identify the remedies available for misrepresentation and fraud in contracts.

Grasp the primary distinctions between actions based on innocent misrepresentation and common law fraud.

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Definitions:

Sales Orientation

A business approach that focuses primarily on the sale of products or services, rather than understanding and meeting the needs of the customers.

Pricing Strategy

A plan or method used by companies to determine the best price for their products or services to maximize profits and meet market demands.

Five Cs

A marketing concept focusing on Customer, Company, Competitors, Collaborators, and Context as critical components of successful marketing strategies.

Company Objectives

Specific, measurable goals set by a business aiming to guide its operational and strategic decisions.