Which of the Following Statements About Internal Control Is Incorrect

question 70

Multiple Choice

Which of the following statements about internal control is incorrect?

• A) Internal control is a very broad concept.
• B) Internal control eliminates the possibility of fraud and error.
• C) Internal control encompasses all of the elements of an organization.
• D) Internal control provides reasonable assurance about the achievement of the entity's objectives.

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Definitions:

Jim Crow Realities

Refers to the racial segregation laws and practices in the United States, especially in the South, from the late 19th century through the civil rights movement.

Commission on Interracial Cooperation

An organization founded in the early 20th century aimed at promoting better relations and understanding between the races in the American South.

Debt Peonage

A system where a person's labor is demanded as a means of repaying a debt, often leading to long-term servitude and exploitation.

Will W. Alexander

An individual potentially notable for contributions to a specific field or event; further context is needed for a precise definition.