The Control Environment Includes All of the Following Except

question 55

Multiple Choice

The control environment includes all of the following except

• A)management philosophy and operating style.
• B)methods of assigning authority and responsibility.
• C)personnel policies and practices.
• D)control activities.

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Definitions:

Antilapse Clause

A provision in a will or estate plan that specifies what happens to a gift if the beneficiary predeceases the donor, often allowing the gift to pass to the beneficiary's heirs.

Incontestability Clause

A part of an insurance contract that precludes an insurance company from challenging statements in an insurance application after a certain period of time.

State Mandated

Requirements or actions imposed by state governments that must be complied with by individuals or entities within that state.

Premium

An insurance payment.