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:

Consumer Surplus

The variation between the sum consumers are willing to allocate for a good or service and the sum they actually allocate.

Surplus II

An additional amount of a resource, product, or service that exceeds the amount demanded or utilized.

Consumer Surplus

The discrepancy between what consumers are willing to spend on a good or service and their actual expenditures.

Surplus II

An excess of supply over demand in the market, leading to excess goods and potential lower prices.