All categories

3 years ago

Which of the following is not a basic principle of the COSO ERM framework?

Business

1 answer:

Gnom [1K]3 years ago

8 0

Answer:

The correct answer is letter "B": Companies are formed to create value for society.

Explanation:

The Committee of Sponsoring Organizations (<em>COSO</em>) is an international acknowledgment organism where basic risk regulating frameworks and accomplishment in organizational internal control matters are established. When it comes to Enterprise Risk Management (<em>ERM</em>) the committee proposes key principles and concepts for clear guidance.

Creating value for society is not included in one of the core objectives of the COSO ERM.

You might be interested in

The following information is from the annual financial statements of Raheem Company. 2017 2016 2015 Net sales $ 445,000 $ 376,00

sergeinik [125]

Answer:

9.60; 10.62

Explanation:

In 2016:

Average accounts receivables:

= (Beginning accounts receivable + Ending accounts receivable) ÷ 2

= (37,500 + 40,800) ÷ 2

= 39,150

Accounts receivable turnover = Net sales ÷ Average accounts receivables

= $376,000 ÷ 39,150

= 9.60

In 2017:

Average accounts receivables:

= (Beginning accounts receivable + Ending accounts receivable) ÷ 2

= (40,800 + 43,000) ÷ 2

= 41,900

Accounts receivable turnover = Net sales ÷ Average accounts receivables

= $445,000 ÷ 41,900

= 10.62

3 0

3 years ago

How do keynesian economic policies differ from the traditional laissez-faire policies developed by adam smith?

shusha [124]

Keynesian economic basically means that the goverment has to step in and try to stimulate economic wealth. This is were macroeconomics comes to play. Laissez fair in Belgium means hands off or lay. This explains why laissez fair is a strategy our previous presidents used to stop the Great Depression. In other words it means the govermeant steps out of helping hand and count on capitalism.

5 0

3 years ago

A Quality Analyst wants to construct a sample mean chart for controlling a packaging process. He knows from past experience that

AlexFokin [52]

Answer:

There are 5 questions altogether, so the answers and explanations are below.

Explanation:

QUESTION 1

Whenever the packaging process is under control, package weight is normally distributed with mean of 20 ounces and standard deviation of 2 ounces. This makes the true mean lie between 18 and 22 [subtract 2 from 20 and add 2 to 20].

For Monday, the mean is the addition of the values then divided by 4. That is, 92/4 = 23

For Tuesday, same computation follows. We have 84/4 = 21

For Wednesday, 80/4 = 20

For Thursday, 76/4 = 19

For Friday, 80/4 = 20

For the packaging process to be out of control, the mean weight for that day of the week must be outside the interval.

The answer is option (A) Monday because the mean weight for that day exceeds the upper limit of 22 ounces.

QUESTION 2

Accordingly, he sampled 4 units of output from each machine.

We will find the mean of the output units from each machine.

M1 : (17+15+15+17) ÷ 4 = 64/4 = 16

M2 : 84 ÷ 4 = 21

M3 : 92 ÷ 4 = 23

The correct answer is option (A) Machine Number 1 because the process mean for that machine is outside the control limit specified. The value 16 is below the lower limit value of 16.71.

QUESTION 3

It is the same as question 2 BUT we are to find the estimate of the process mean for whenever it is under control.

The interval given [16.71 - 23.29] represents the interval within which the process means for machines which are 'under-control' will fall. Hence the estimate of the process mean for whenever the machines are under control is:

(23.29 + 16.71) ÷ 2 = 40/2 = 20

The correct option is (C) 20

QUESTION 4

Specification requires that the piece of material be between 52.47 and 55.53 inches.

The process that produces the piece of material yields an interval of [53.1 - 54.9].

This is gotten from the subtraction of the standard deviation/error from the process mean of 54 and adding the standard error to the process mean of 54.

The answer is option (E) None of the above. This is because the correct answer is 100%. All pieces produced by the process fall within 53.1 and 54.9 inches and this interval falls rightly within the required specification of [52.47 - 55.53] inches.

QUESTION 5

Here, process mean interval is same as the required interval. Subtracting the standard deviation from the process mean and adding it to the process mean, we get our lower limit and upper limit respectively. The distribution of output is also normal.

Since the process is under/in control, it means that the 5 samples had sample means that are within the required interval.

So, since distribution of output (mean) is Normal, 85.01% of the sample means will fall within the middle values of 85.01% of the interval.

The interval spans 1.6 points or inches. This is the distance or difference between the upper and lower limits.

85.01% of 1.6 is 1.36016

We will divide this interval into two so we can get our new standard deviation and subtract it from 59, as well as add it to 59, to get the new interval within which 85.01% of sample means will fall.

1.36016 ÷ 2 = 0.68008

So the new lower limit is 58.31992

New upper limit = 59.68008

Correct answer is Option (E) None of the above

85.01% of sample means will fall within [58.31992 - 59.68008]

If approximated to 3 decimal places as in the options given above, 85.01% of sample means will fall within [58.320 - 59.680] inches.

GOOD LUCK!!

6 0

3 years ago

Pete, the marketing manager at Regal, believes that an employee should always act ethically and should also report instances of

k0ka [10]

Answer:

c. value

Explanation:

The individual character depends on his/her beliefs and values. It can be in terms of honesty, unbiased, unethical, efficiency, commitment, faithfully, openness, flexibility, etc

The people judge the person's character based on these attributes which is to be important in this changing environment i.e corporate world.

In the given situation, the marketing manager talks about the values.

8 0

3 years ago

Read 2 more answers

The schedule below shows the supply and demand for movie tickets. What is the equilibrium quantity and price? Price per Pound Qd

Hoochie [10]

Answer:

Equilibrium price is $8

Equilibrium quantity is 21

Explanation:

Equilibrium occurs where quantity demanded equals the quantity supplied. At equilibrium, both buyers and sellers are satisfied and there's no incentive to change the price and quantity demanded.

Equilibrium price is the price where equilibrium occurs. In this question, it is $8.

Equilibrium quantity is the Quanitity where equilibrium occurs. In this question, it is 21.

Graphically, equilibrium is found where the demand curve intersects the supply curve.

Please check the attached image for a graphical representation of Equilibrium.

I hope my answer helps you

8 0

3 years ago