Which One of the Following Statements Regarding Internal Control Is

question 14

Multiple Choice

Which one of the following statements regarding internal control is true?

• A) Companies can design a system of internal control that is foolproof.
• B) A well-designed internal control system is a luxury that few companies can afford.
• C) It is easier to implement an effective internal control system in a small company because of the limited number of employees.
• D) Large companies are able to devote a substantial amount of resources to internal control systems because these companies have the assets to justify the cost.

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Definitions:

Virtual Teams

Groups of people who work together from different geographical locations, relying on electronic communication for collaboration.

Group Communication Software

Tools or platforms designed to facilitate messaging, collaboration, and workflow among teams or groups.

Norming Stage

The norming stage is a phase in team development where members resolve differences, establish norms, and appreciate cohesive relationships, enhancing team performance.

Team Leader

An individual who leads, guides, and manages the efforts of a group to achieve a common goal.