Which of the Following Are Specific Factors Evaluated Under the COSO

question 14

Multiple Choice

Which of the following are specific factors evaluated under the COSO component "control activities?"

• A)separation of transactions from the authorization of documents
• B)proper authorization of transactions and activities
• C)separation of IT duties from user departments
• D)physical control over checks on performance and independent control over records
• E)both A and B
• F)both B and C
• G)both A and D

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Definitions:

Raw Materials Purchases

This refers to the total cost incurred by a company to buy the raw materials needed for production.

Gallons

This term refers to a unit of volume measurement, commonly used in the United States to measure liquids.

Fixed Manufacturing Overhead

The portion of total manufacturing overhead costs that do not vary with the level of production or output.

Work in Process

Inventory account containing goods that are in the manufacturing process but are not yet complete.