Which of the following best describes the purpose of control activities?
A) the actions, policies and procedures that reflect the overall attitudes of management
B) the identification and analysis of risks relevant to the preparation of financial statements
C) the policies and procedures that help ensure that necessary actions are taken to address risks to the achievement of the entity's objectives
D) activities that deal with the ongoing assessment of the quality of internal control by management
C
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Two or more people or firms joining together as an entity to own real estate is __________________.
Fill in the blank(s) with the appropriate word(s).
Steven & Meyer Inc is an women's cosmetics manufacturing firm based in California. The firm sells its cosmetic products under the brand name GentleCare
After extensive market research, the firm launches a new line of household care products under the brand name White Oleander. The firm aims to increase the likelihood that its overall performance will be consistent because adverse conditions in one product-market will be offset by favorable conditions in the other. In this example, Steven & Meyer Inc is using which of the following strategies? A) a vertical integration strategy B) a harvest strategy C) a monetize position strategy D) a diversification strategy E) a horizontal integration strategy