Two Limitations of Internal Control Systems Are ____________________ and _______________

question 194

Essay

Two limitations of internal control systems are ____________________ and _______________.

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Definitions:

Paid-in Capital

The amount of money a company has received from shareholders in exchange for shares of stock.

Par Value

The nominal or face value of a bond, share of stock, or other financial instrument, representing the value at which it is issued.

Stockholders' Equity

The residual interest in the assets of a corporation that remains after deducting liabilities, representing the ownership interest of shareholders.

Preferred Stock

A class of ownership in a corporation that has a higher claim on assets and earnings than common stock, often with dividend payment preferences.