Cortez Works for a Large Retailer That Sells Various Kinds

question 32

Multiple Choice

Cortez works for a large retailer that sells various kinds of linens (towels, sheets, blankets, pillow cases) . As part of an enterprise risk management plan, he recommends the company purchase more fire insurance. Which section of the COSO enterprise risk management framework is most applicable to his recommendation?

• A) Risk response.
• B) Objective setting.
• C) Monitoring.
• D) Event identification.

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Definitions:

Intuition

An experienced-based way of knowing or reasoning in which the weighing and balancing of evidence are done unconsciously and automatically.

Inspirational Business Name

A creative and motivating name chosen for a business to inspire potential customs and reflect the company's ethos.

Workflow

The sequence of processes through which a piece of work passes from initiation to completion in a business or work environment.

Working Conditions

The environment, including hours, physical aspects, and any hazards, in which employees perform their jobs.