A Component of COSO's Internal Control System Concerns the Process

question 36

Multiple Choice

A component of COSO's internal control system concerns the process of identifying,capturing,and exchanging information in a timely fashion to enable accomplishment of the organization's objective.This component is called

• A)control activities.
• B)information and communication.
• C)monitoring.
• D)control environment.

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Definitions:

Wheat Crop

Wheat crop refers to the cultivation of wheat plants for the purpose of producing wheat grains, which are a staple food in many countries and used in making flour for bread, pasta, and other products.

Supply

The total amount of a product or service available for purchase at any given price.

Price Of Oil

The cost at which crude oil is bought and sold, influenced by global supply and demand, geopolitical issues, and economic conditions.

Supply Curve

A graph that illustrates the relationship between the price of a good or service and the amount of it that producers are willing to supply at each price level.