Internal Controls Can Never Be Regarded as Completely Effective

question 1

Multiple Choice

Internal controls can never be regarded as completely effective.Even if systems personnel could design an ideal system,its effectiveness depends on the

• A)adequacy of the computer system.
• B)proper implementation by management.
• C)ability of the internal audit staff to maintain it.
• D)competency and dependability of the people using it.

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Definitions:

Journal Entries

A record in accounting that is used to log debits and credits for transactions and events into the accounting system.

Investment Account

An account held by an individual or entity, typically at a financial institution, that holds funds and securities for investment purposes.

Related Income

Income generated from transactions or arrangements between entities that have a relationship with each other.

Zebrafish

A small freshwater fish often used in scientific research due to its transparent embryos and rapid development.