When a Company Designs and Implements an Internal Control System

question 51

True/False

When a company designs and implements an internal control system, the control must be cost-effective.

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Definitions:

Ego

In psychoanalytic theory, the part of the personality that mediates between the demands of the id, superego, and reality.

Preconscious

The part of the mind that contains thoughts, feelings, and memories not currently in consciousness but can be easily accessed.

Id

A component of Sigmund Freud's psychoanalytic theory, representing the unconscious part of the psyche that operates on the pleasure principle and seeks immediate gratification.

Impulse Control

The ability to resist or delay an impulse, drive, or temptation to act.