Internal Control System Have Limitations

question 68

Multiple Choice

Internal control system have limitations. These include all of the following except

• A) possibility of honest error
• B) circumvention
• C) management override
• D) stability of systems

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Definitions:

Public Choice Analysis

A field of economics that studies how economic theory and methodologies apply to the public sector, analyzing government behavior and decision-making processes.

Logically Consistent Theory

A theory in which the statements and principles are coherently aligned and do not lead to any contradictions or inconsistencies.

Individual Actors

Entities or persons that act independently within an economic system, making decisions based on personal interests or goals.

Politicians

Individuals engaged in directing or influencing government policy and decision-making.