The Measures Used by an Organization to Provide Reasonable Assurance

question 69

Multiple Choice

The measures used by an organization to provide reasonable assurance that the organization produces reliable financial reports,complies with applicable laws and regulations,and conducts its operations in an efficient and effective manner are collectively referred to as:

• A)Generally accepted accounting principles.
• B)Financial accounting standards.
• C)Securities and exchange regulations.
• D)The internal control structure.

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Definitions:

Cognitive Moral Development

A theory that explains the stages through which individuals evolve in their ability to reason morally, from basic understanding to sophisticated ethical reasoning.

Social System

An organized and interdependent constellation of institutions, groups, and norms that collectively shapes the behaviors and relationships of individuals within a society.

Duty to Society

The responsibility of individuals and organizations to act in the best interests of the community at large, contributing positively to the welfare of others.

Social Contract

A theoretical agreement within a society or between the governed and the government, defining and limiting the rights and duties of each.