Which of the Following Is not a Limitation of Internal

question 104

Multiple Choice

Which of the following is not a limitation of internal control?

• A)Cost of establishing control procedures should not exceed their benefit.
• B)The human element.
• C)Collusion.
• D)The size of the company.

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Definitions:

Risk Profiles

Descriptions of an individual's or organization's willingness to take risks, as well as the threats to which they are exposed.

Risk Profile

A risk profile assesses the willingness and ability of an individual or entity to take risks, often used in financial planning to tailor investment strategies.

Futures Contract

A uniform agreement to engage in a purchase or sale at a future time, with the price established beforehand.

Foreign Exchange Exposure

The risk associated with changes in foreign exchange rates affecting the value of investments held in foreign currencies.