Which of the Following Is Not True of the Concepts

question 27

Multiple Choice

Which of the following is not true of the concepts that are embodied in the COSO framework of internal control?

• A)Internal control relates to the organization's objectives.
• B)The six components of internal control are logically and operationally intertwined.
• C)Internal control applies across all activities of the organization.
• D)All of the above are important concepts

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Definitions:

Substitution

The economic principle describing how consumers or producers switch between goods or resources as relative prices or availability change.

Quart

A unit of liquid volume equal to two pints, approximately 0.946 liters in the United States.

Pound

A unit of currency used in the United Kingdom and other areas, or a unit of weight equal to 16 ounces.

Convex Preferences

Consumer preferences that signify a desire for diversified bundles of goods, represented by convex-shaped indifference curves.