Question 5

A:

The COSO Enterprise Risk Management Integrated Framework

Group of answer choices

stresses that effective risk management is comprised of just three interrelated components; internal environment, risk assessment, and control activities.

helps management manage uncertainty, and its associated risk and opportunity, so they can build and preserve value.

creates management policies, that if enforced, guarantee achievement of corporate objectives.

states that managing risk is the sole responsibility of top management.

B:

At the time of the event, which of the following does not result in a journal entry and an update of information in the general ledger?

Group of answer choices

Shipping goods and billing the customer

Approving invoice for payment to the vendor

Processing of the sales order

Making a payment to the vendor