Which of the Following Statements Relating to Control Activities Is

question 73

Multiple Choice

Which of the following statements relating to control activities is incorrect?

• A) They include management's philosophy and operating style.
• B) They are policies and procedures that help make sure management's directives are carried out.
• C) They help guarantee that necessary actions are taken to address risks impacting the achievement of the organization's objectives.
• D) They have various objectives and are applied at various organizational and functional levels.

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Definitions:

Electronic Contracts

Agreements formed, signed, or executed electronically, which are legally binding under electronic commerce laws.

Statute of Frauds

A legal principle requiring certain contracts to be written and signed by the parties involved to be enforceable.

Employment Contract

A formal agreement between an employer and an employee that outlines the terms and conditions of employment.

Parol Evidence Rule

A legal principle that prevents parties to a written contract from presenting extrinsic evidence of terms of the agreement that contradict, modify, or vary contractual terms agreed upon in the written document.