When Assessing a Company's Internal Control Structure Policies and Procedures

question 64

Multiple Choice

When assessing a company's internal control structure policies and procedures, the primary consideration is whether they

• A)Prevent management override
• B)Relate to the control environment
• C)Reflect management's philosophy and operating style
• D)Affect the financial statement assertions

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Definitions:

Depression

An emotional wellness issue where an individual experiences constant feelings of sadness or has a diminished interest in activities, significantly affecting their daily living.

Seligman

A psychologist known for his work in positive psychology and the theory of learned helplessness.

Julian Rotter

A psychologist from the United States who is recognized for creating the theory of social learning and the idea behind locus of control.

Skinner

B.F. Skinner, an American psychologist known for his work in behaviorism and the development of the operant conditioning theory.