An Inherent Limitation of Internal Control Is That It ________

question 78

Multiple Choice

An inherent limitation of internal control is that it ________.

• A)is only as good as those that designed it
• B)often fails to provide complete assurance of misstatements
• C)can only provide an entity with reasonable assurance in achieving its financial reporting objectives
• D)may be costly to implement, and seldom yields any tangible benefits

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Definitions:

Community Involvement

The engagement and participation of businesses or individuals in activities that benefit their local community.

Line Manager

A manager who has direct responsibility for managing employees and operations, making key decisions that impact the core business.

Human Resources

The department in a company responsible for managing recruitment, employment, training, support, and policy development for staff.

Managing Human Resources

The process of recruiting, hiring, deploying, and managing an organization's employees in order to optimize workforce performance and meet the strategic goals.