Which of the following statements is not true regarding internal control procedures?
A)Internal control procedures are designed to ensure reliable financial reports.
B)Internal control procedures are designed to safeguards company assets.
C)Internal control procedures direct operations toward common goals.
D)Internal control procedures include methods to achieve compliance with laws and regulation.
E)Internal control procedures are not affected by the cost-benefit principle.

Question

Quizplus · Accepted Answer

Internal control procedures can be affected by the cost-benefit principle, as companies must weigh the costs of implementing control procedures against the benefits of having reliable financial information and safeguarding assets.

Which of the Following Statements Is Not True Regarding Internal