A System of Internal Control

question 135

Multiple Choice

A system of internal control

• A) is infallible.
• B) can be rendered ineffective by employee collusion.
• C) invariably will have costs exceeding benefits.
• D) is premised on the concept of absolute assurance.

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Definitions:

3 Months

A time period equivalent to approximately 90 days or one quarter of a year.

Early Adulthood

A life stage occurring after adolescence, typically characterized by independence, the pursuit of a career, and for many, forming a family.

Early Adolescence

A developmental stage typically ranging from ages 10 to 14, characterized by significant physical, emotional, and cognitive changes.

Middle to Late Adulthood

A stage of human development typically characterized by aging and increased focus on life review, retirement, and adjusting to new social roles.