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:

Held Constant

This term refers to keeping a variable unchanged throughout an experiment or analysis to isolate the effects of other variables.

Average Change

The mean amount by which a set of values increase or decrease.

Total Variation

Total variation quantifies the extent to which a function varies across its domain, often used in mathematical analysis and signal processing.

Dependent Variable

In an experiment, this is the variable anticipated to vary as a result of alterations made to the independent variable.