Which of the Following Most Likely Would Not Be Considered

question 16

Multiple Choice

Which of the following most likely would not be considered an inherent limitation of the potential effectiveness of an entity's internal controls?

• A)Incompatible duties.
• B)Management override.
• C)Mistakes in judgment.
• D)Collusion among employees.

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Definitions:

Pegboard System

An accounting system that uses a board with pegs to track the financial transactions and balances of a business.

Quarterly Amounts

Financial figures or sums calculated or reported every three months within a fiscal year.

Government Agencies

Organizations or bodies formed by a government to enact policies, enforce laws, and manage public sector activities.

Credit Balance

The amount of money in a financial account that the account holder can claim, representing a surplus of payments over charges.