Internal controls have certain limitations. Identify the alternative that is not one of those limitations.a.Controls are directed at routine and non-routine transactions.b.Management can abuse their responsibility.c.The potential of human error exists.d.The cost of implementing a control could exceed it benefits

What is the main reason for inherent limitations in internal control?Option     Management's override of controls     The costs of internal controls should not outweigh the benefits     Lack of management commitment to internal control     Inadequate training of employees responsible for internal control

Discuss the limitations of internal control components.

Internal control is defined, in part, as a plan that... Question 3Answera.enhances the accuracy and reliability of accounting recordsb.all of the other options are correctc.eliminates mistakes and errorsd.prevents robbery and theft

Which of the following is correct about internal control?Select one:a.Most internal controls tend to be directed at non-routine transactionsb.Accounting and internal control systems provide management with conclusive evidence that objectives are reached.c.Management does not consider costs of the accounting and internal control systems.d.One of the inherent limitations of accounting and internal control systems is the possibility that the procedures may become inadequate due to changes in conditions, and compliance with procedures may deteriorate.

When control risk is relevant to the subject matter, control risk will not exist anymore because of the inherent limitations of the design and operation of internal controlSelect one:TrueFalse