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Limitations of Internal Controls
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Problem 10
Limitations of Internal Controls
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6. Internal Controls and Reporting Cash / Limitations of Internal Controls / Problem 6
Problem 6
What does 'reasonable assurance' mean in the context of internal controls?
A
Internal controls provide a high level of confidence that fraud is unlikely.
B
Internal controls guarantee that no fraud will occur.
C
Internal controls are only effective in large organizations.
D
Internal controls eliminate the need for external audits.
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