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.

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Definitions:

Dramatic

Characterized by striking emotional expression or presentation, often associated with theater or performance arts.

Personal Relationships

Interpersonal affiliations or bonds between individuals, characterized by emotional or social connection and interactions.

Schizotypal Personality Disorder

A personality disorder characterized by extreme discomfort in close relationships, odd forms of thinking and perceiving, and behavioral eccentricities.

Narcissistic Personality Disorder

A personality disorder marked by a broad pattern of grandiosity, need for admiration, and lack of empathy.