Which one of the following is NOT a limitation of internal control? Objectives of internal control systems may be defeated by manipulation of management Management decision to choose cost effective control system may reduce the effectiveness of internal control system It provides reliable and accurate data that is necessary for decision making and to run business activity efficiently. Since internal control system is involved in routine transactions, irregular transactions may be overlooked
Which one of the following is NOT a limitation of internal control? Objectives of internal control systems may be defeated by manipulation of management Management decision to choose cost effective control system may reduce the effectiveness of internal control system It provides reliable and accurate data that is necessary for decision making and to run business activity efficiently. Since internal control system is involved in routine transactions, irregular transactions may be overlooked
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Which one of the following is NOT a limitation of internal control?
Objectives of internal control systems may be defeated by manipulation of management
Management decision to choose cost effective control system may reduce the effectiveness of internal control system
It provides reliable and accurate data that is necessary for decision making and to run business activity efficiently.
Since internal control system is involved in routine transactions, irregular transactions may be overlooked
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