Of the Following Statements About Internal Control,which One Is not

question 92

Multiple Choice

Of the following statements about internal control,which one is not valid?

• A)No one person should be responsible for the custodial responsibility and the recording responsibility for an asset.
• B)Transactions must be properly authorized before such transactions are processed.
• C)Because of the cost/benefit relationship,a client may apply control procedures on a test basis.
• D)Control activities ensure all fraud will be eliminated.

---

Definitions:

Excessive

Going beyond the usual, necessary, or proper limit or degree; characterized by overindulgence or immoderation.

Antisocial Personality Disorder

The diagnosis given a person who is in frequent conflict with society, yet who is undeterred by punishment and experiences little or no guilt and anxiety.

Instability

The state of being prone to change or failure; lacking firmness or steadiness in social, emotional, or physical realms.

Impulses

Sudden, involuntary urges to act or do something, often without premeditation.