Which One of the Following Statements Regarding Internal Control Is

question 120

Multiple Choice

Which one of the following statements regarding internal control is false?

• A)It is not possible to design a system of internal controls that is foolproof.
• B)A well-designed system of internal controls should be the goal of every organization whether for profit or not-for-profit.
• C)Separation of duties is the easiest control activity to implement in small companies.
• D)It is easiest to implement effective internal controls in large companies which are able to devote substantial resources to those systems.

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Definitions:

Government Role

The responsibilities and activities undertaken by a government, which may include legislation, administration, and the implementation of public policy.

Rawls

Philosopher known for his theory of justice as fairness, which argues for a societal structure that balances liberty and equality.

Rawlsian Fairness

A concept derived from John Rawls' theories, focusing on the principles of justice that ensure fairness in societies by prioritizing the rights and needs of the least advantaged.

Constrained Power

The limitation of authority or control to prevent abuse and ensure it is used responsibly and justly.