An Organization Implements Internal Controls Without Consideration of Whether or Not

question 26

True/False

An organization implements internal controls without consideration of whether or not the cost exceeds their benefits.

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Definitions:

Consumer Credit

A type of personal loan extended to individuals to purchase consumer goods and services, typically involving interest charges.

Policies

Principles or guidelines that govern actions towards achieving desired outcomes or objectives within an organization or government.

Government

The governing body of a nation, state, or community, responsible for making and enforcing laws.

Personnel

Employees or staff members within an organization, regarded collectively as an important resource.