A System of Internal Control Is Not Needed When a Company

question 14

True/False

A system of internal control is not needed when a company regularly takes a physical inventory.

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Definitions:

Civil Trial

A legal proceeding in which a civil court resolves disputes between individuals or organizations involving non-criminal matters.

Remedies

Legal means for enforcing a right or redressing a wrong, including compensation, restitution, and injunctions.

Plaintiff

The party who initiates a lawsuit before a court against another party, known as the defendant.

Civil Action

A legal proceeding in which one party (the plaintiff) sues another (the defendant) for a wrong that does not arise from a contract.