Which component of COSO's internal control system concerns the process that provides feedback on the effectiveness of the other four components of internal control?
a. Information and communication.
b. Monitoring.
c. Control activities.
d. Risk assessment.
b
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The goal programming problem with the objective function Min P1(d1+) + P2(d2?) is initially solved by the computer and the objective function value is 0. Which of the following constraints should be added for the second problem?
a. d1+ = 0 b. d1+ + d2? = 0 c. ?d1+ + d2? = 0 d. d1+ ? 0
An individual is on the game show Squeal or No Squeal, and she has a choice between receiving a certain gain of $100,000 and receiving a 50% chance of winning $200,000 or zero. If she takes the gamble instead of the certain $100,000, she is acting ____________________.
A. like a person who is risk-neutral B. like a person who is risk averse C. like a person who is a risk lover D. irrationally
Identify which of the following statements is true.
A. A newly formed corporation must select its basic accounting method. B. The terms "regular corporation" and "C corporation" are synonymous. C. A corporation is a separate taxpaying entity that must file a tax return annually. D. All of the above are true.