which of the following is not a key element of good internal control course hero

Which of the following is not an element of internal controls?

The correct option is (c) behavior analysis.

Which of the following is considered as elements of internal control?

The five components of the internal control framework are control environment, risk assessment, control activities, information and communication, and monitoring.

What are the four general aims of internal control?

Internal controls function to minimize risks and protect assets, ensure accuracy of records, promote operational efficiency, and encourage adherence to policies, rules, regulations, and laws.

What are internal controls in accounting?

What Are Internal Controls? Internal controls are the mechanisms, rules, and procedures implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Which of the following is a key element of good internal control?

There are five interrelated components of an internal control framework: control environment, risk assessment, control activities, information and communication, and monitoring.

What are the 5 elements of internal control?

Determining whether a particular internal control system is effective is a judgement resulting from an assessment of whether the five components - Control Environment, Risk Assessment, Control Activities, Information and Communication, and Monitoring - are present and functioning.

Which of the following is not the objective of internal control system?

The answer is b. Overstate liabilities in order to be conservative.

What is not an objective of internal control?

Internal control procedures do NOT include: control environment. The objectives of internal control do NOT include. strong control environments.

Which of the following is an element of internal control quizlet?

the five elements of internal control are the control environment, risk assessment, control procedures, monitoring, and information and communication.

What makes a good internal control?

The framework of a good internal control system includes: Control environment: A sound control environment is created by management through communication, attitude and example. This includes a focus on integrity, a commitment to investigating discrepancies, diligence in designing systems and assigning responsibilities.

What are the 3 internal controls?

There are three main categories of internal controls: preventative, detective and corrective. Internal controls are characteristically summed up as a series of policies and procedures or technical protections that are put in place to prevent problems and protect the assets of a business organization.

Which is not an example of an internal control activity?

Hence, depositing cash weekly is not an example of internal control system.