A System of Internal Control Can Only Provide Reasonable Assurance

question 82

Multiple Choice

A system of internal control can only provide reasonable assurance, which is based on the belief that

• A)the system is infallible.
• B)the system can always detect errors and irregularities.
• C)the costs of establishing control activities should not be greater than the expected benefit.
• D)the human element is not important.

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Definitions:

Peg Method

A mnemonic technique that involves associating items to be remembered with a list of peg words you have memorized in advance.

Method of Loci

A mnemonic strategy that involves visualizing items to be remembered in specific physical locations.

Forgetting Curve

The graphic pattern representing the relationship between measures of learning and the length of the retention interval: As the retention interval gets longer, memory decreases.

Unrelated Verbal Material

relates to words or phrases that have no direct connection or relevance to each other, often used in memory or cognitive processing studies.