According to the COSO Definition, Internal Controls Should Address Which

question 20

Multiple Choice

According to the COSO definition, internal controls should address which of the following areas: (i) effectiveness and efficiency of operations, (ii) reliability of financial reporting, (iii) compliance with applicable laws and regulations.

• A) i and ii only.
• B) ii and iii only.
• C) i and iii only.
• D) i, ii and iii.

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Definitions:

Instance Methods

Functions defined within a class that operate on instances of that class, using the data contained in those instances.

Modifiers

Keywords in programming languages that adjust the properties of data structures, methods, and variables, such as access levels and behavior.

Override

A feature in object-oriented programming that allows a subclass or child class to provide a specific implementation of a method that is already provided by one of its superclasses or parent classes.