Final answer:
The three characteristics of internal control defined by COSO include the control environment, risk assessment, and control activities, which are essential to creating and maintaining effective internal controls within an organization. The correct option is c.
Step-by-step explanation:
The three characteristics that are part of the definition of internal control by the Committee of Sponsoring Organizations (COSO) are the following: control environment, risk assessment, and control activities. These elements are fundamental to the COSO framework, which provides a comprehensive model for evaluating the effectiveness of a company's internal control systems.
The control environment sets the tone of organization that influences the control consciousness of its people. Risk assessment is the identification and analysis of relevant risks to achieving the organization's objectives, forming a basis for determining how the risks should be managed.
Lastly, control activities are the policies and procedures that help ensure management directives are carried out. They are designed to address specific risks and to achieve the entity’s objectives efficiently.
Hence, Option c is correct.