Which of the Following Is an Element of the Control

question 40

Multiple Choice

Which of the following is an element of the control environment?

• A) participation by those charged with governance
• B) commitment to competence
• C) segregation of duties
• D) both a and b

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Definitions:

Comparative Data

Information presented for two or more periods to facilitate quantitative analysis, allowing for trend analysis and benchmarking.

Operating Expenses

Costs incurred during the normal operations of a business, excluding costs related to the production of goods or services.

Direct Method

A cash flow statement preparation approach that lists major categories of gross cash receipts and payments.

Depreciation Expense

The methodical distribution of the expense of a physical asset over its estimated life span.