Which of the Following Most Likely Would Not Be Considered

question 27

Short Answer

Which of the following most likely would not be considered as an inherent limitation of the effectiveness of a firm's internal control?
A. Incompatible duties.
B. Management override.
C. Mistakes in judgment.
D. Collusion among employees.

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Definitions:

Socially Optimal Quantity

The socially optimal quantity is the level of production of a good or service that maximizes societal welfare, considering both private and external benefits and costs.

Seller

A seller is an individual or entity that offers goods or services for sale in the market.

Buyer

An individual or entity that acquires goods or services in exchange for money, playing a crucial role in the dynamics of supply and demand in the marketplace.

Social-Cost Curve

illustrates the total cost of producing a good or service, including both private costs incurred by businesses and external costs borne by society.