CPA Australia Identifies Five Reasons an Internal Control System Does

question 12

Multiple Choice

CPA Australia identifies five reasons an internal control system does not provide 100 per cent assurance that an organisation's objectives will be achieved.These reasons do NOT include:

• A)Judgement error
• B)Unexpected transactions
• C)Weak internal controls
• D)Natural disasters

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Definitions:

Atom

An atom is the smallest unit of matter that retains the identity of a chemical element, consisting of a nucleus surrounded by electrons.

Molecule

The smallest unit of a chemical compound that can exist; it consists of a group of atoms bonded together, representing the compound's chemical properties.

Relative Frequencies

The proportion of occurrences of a specific value relative to the aggregate count of observations, frequently shown as a percentage.

Sample Size

The number of observations or data points collected in a study or used in a statistical analysis.