The 1992 COSO Report Identifies Five Components for an Effective

question 29

Multiple Choice

The 1992 COSO report identifies five components for an effective internal control system.These are:

• A)Control environment,risk assessment,control activities,information and communication,and monitoring
• B)Control environment,control procedures,control activities,communication,and monitoring
• C)Control procedures,control activities,information,communication,and monitoring
• D)Control procedures,risk assessment,control activities,information and communication,and monitoring

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Definitions:

Biologically Determined

Characteristics or behaviors that are influenced by genetic makeup or inherent in the biology of an organism.

Physical Arousal

The physiological and psychological state of being awoken or activated, often in response to a stimulus.

Schachter

Stanley Schachter was a psychologist known for his development of the two-factor theory of emotion, which considers both physiological arousal and cognitive interpretation.

Singer

A singer is a person who uses their voice to produce musical sounds through modulation in tone and pitch, performing alone or with other musicians.