An improperly designed control does not necessarily represent a material weakness in the entity's internal control.Select one:TrueFalse

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

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

Human error is a common cause of internal control failure.True false question.TrueFalse

Understanding entity's controls is a process to assess the effectiveness of internal control performance on a timely basis and taking necessary corrective actions.Select one:TrueFalse

The likelihood of assessing control risk too high is the risk that the sample selected to test controlsSelect one:a.Does not support the tolerable misstatement for some or all of management's assertions.b.Contains proportionately fewer monetary errors or deviations from prescribed internal control policies or procedures than exist in the balance or class as a whole.c.Contains misstatements that could be material to the financial statements when aggregated with misstatements in other account balances or transaction classes.d.Does not support the auditor's planned assessed level of control risk when the true operating effectiveness of the control justifies such an assessment.