Internal Control System Have Limitations

question 68

Multiple Choice

Internal control system have limitations. These include all of the following except

• A) possibility of honest error
• B) circumvention
• C) management override
• D) stability of systems

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Definitions:

SFC

Stands for Securities and Futures Commission, a regulatory agency overseeing securities and futures markets for integrity and protection against malpractice.

Nautical Navigation

The process and practice of charting a course for ships, boats, and other watercraft over bodies of water.

International Trade

The exchange of goods, services, and capital across international borders or territories.

Cash-Poor

Describing a situation or a person having liquid assets significantly lower than their current liabilities or needs.