Two Important Limitations of Internal Control Systems Are (1) Human

question 108

True/False

Two important limitations of internal control systems are (1) human error or human fraud, and (2) cost-benefit.

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Definitions:

Rule of Reason

A legal doctrine used in antitrust law that considers the context and circumstances of a business practice to determine its legality.

Clayton Act

An amendment to United States antitrust law, aiming to prevent specific practices of anticompetitive behavior not covered by the Sherman Act.

Price Discrimination

A pricing approach in which the same provider sells identical or nearly identical products or services for different prices across various markets.

Tying Contracts

Agreements where the buyer of a particular product is forced to buy an additional product from the same seller.