A General Rule That Should Be Followed When Developing Control

Multiple Choice

A general rule that should be followed when developing control procedures for a company's assets is:

A) The cost of the control procedure will likely exceed the procedure's benefit
B) The procedure should not be designed and implemented unless an asset's cost exceeds $5,000
C) The more liquid an asset is, the greater the risk of its misappropriation
D) The procedure should not be designed and implemented in situations where a risk assessment has been previously performed