Multiple Choice
An ideal control is:
A) A control procedure that reduces to practically zero the risk of an error or an irregularity taking place and not being detected
B) A control procedure that is anticipated to have the lowest possible cost in relation to its benefits
C) A control procedure that should always be implemented into a company's system due to the efficiency and effectiveness that will result from its implementation
D) A control procedure that is always cost effective
Correct Answer:
Verified
Correct Answer:
Verified
Q17: The separation of duties control would not
Q21: Controls that specifically encourage operating efficiency are
Q37: A company's control environment is unimportant when
Q38: An audit trail problem associated with computerized
Q45: The Basel Committee published a framework for
Q46: Operational audits are performed by a company's
Q47: The sales department bookkeeper has been crediting
Q48: Preventive and corrective controls are established solely
Q56: The component of an internal control system
Q59: Three objectives of a company's internal control