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:

Moral Development

The process through which individuals evolve in their understanding and application of moral principles, often influenced by various social, cultural, and psychological factors.

Transitional Expression

Words or phrases used to provide connections between ideas, sentences, and paragraphs, facilitating smoother communication.

Customer Service

The support and assistance provided by a company to its customers before, during, and after a purchase, aiming to enhance satisfaction and resolve issues.

Customer Service

Assistance and support provided by a company to those people who buy or use its products or services.