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:

Sole Heir

Refers to the only person legally entitled to inherit an entire estate or asset upon the demise of the owner.

Hardware Store

A retail business specializing in the sale of tools, building supplies, and materials necessary for home improvement and repair projects.

Professional Hairdresser

A skilled individual trained in cutting, styling, and treating hair.

Colouring

The process or activity of adding color to something, often applied to art, design, or crafts, including coloring books for both children and adults.