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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