1. A high control risk is synonymous with potentially ineffective controls.

True

False

2.Monitoring is a better component of internal controls than the information and communication component.

True

False

3. The three elements of the fraud triangle include pressure, opportunity, and rationalization

True

False

4. Deploying control activities through policies is an example of the principles associated with risk assessment.

True

False

5. According to the Committee of Sponsoring Organizations (COSO), a commonly cited motivation for fraud is the desire to increase management compensation based on financial results.

True

False