The Component of an Internal Control System That Concerns Itself

question 56

Multiple Choice

The component of an internal control system that concerns itself with the way a company's management assigns authority and responsibility is called:

• A)Monitoring
• B)Control environment
• C)Risk assessment
• D)Information

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Definitions:

Blank

An empty space or a document section left unfilled or unspecified.

Drawee

The party, often a bank, that is directed to pay the sum specified in a check or draft.

Draft

A preliminary version of a document or plan that is subject to review and revision before being finalized.

Ordered

A directive issued by a court or other authority mandating or forbidding some action.