Internal Control Includes ________

question 36

Multiple Choice

Internal control includes ________.

• A)control activities and inherent risks
• B)information systems and external influences
• C)the control environment and risk assessment processes
• D)financial reporting and control activities

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Definitions:

Associated Cost

Refers to the total expenses directly linked to a specific activity, product, or service.

Expected Profit

The forecasted amount of profit calculated from potential revenues minus anticipated costs.

Standard Deviation

A statistical measure that quantifies the dispersion or variation of a set of numerical values.

Fish Tacos

A type of dish often consisting of grilled or fried fish, served on a tortilla with various accompaniments like lettuce, salsa, and avocado.