A Control Would Be Ineffective _______

question 21

Multiple Choice

A control would be ineffective _______.

• A)if it was performed
• B)if it was not performed, or if it failed to function as designed
• C)if it was not performed only
• D)if it failed to function as designed only

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Definitions:

Charters

Legal documents that establish a corporation or other organization, setting forth the name, purpose, regulations, and structure of the entity.

State Laws

The legal guidelines and regulations enacted by individual states in the United States, varying significantly from one state to another.

Federal Laws

Statutes enacted by the national government of a country that apply to all its citizens and entities.

Retained Earnings Deficit

A negative balance in retained earnings, indicating that a company has incurred more losses or dividends than profits over its history.