COSO's Enterprise Risk Management - Integrated Framework,the Most Widely Used

question 53

Multiple Choice

COSO's Enterprise Risk Management - Integrated Framework,the most widely used internal control framework,lists five components of the internal control function.They are

• A)risk assessment,control activities,misstatement identification,information and communications,and monitoring
• B)control activities,risk assessment,misstatement identification,information and communications,and monitoring
• C)control environment,risk assessment,control activities,information and communications,and monitoring
• D)control environment,risk assessment,control activities,misstatement identification,and monitoring

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Definitions:

A-not-B Error

A cognitive error observed in infants during the sensorimotor stage, where they reach for an object at a location where it was previously found (A) rather than its new location (B).

Object Permanence

The understanding that objects continue to exist even when they cannot be seen, heard, or touched.

Eighteen-month-old Babies

Infants who have reached the age of 18 months, a developmental stage characterized by significant growth in motor skills, language acquisition, and personal social awareness.

Sensorimotor Development

The stage in early childhood where children learn about their environment through their senses and motor activities, as described by Piaget.