Which one of the following is not a primary component of an internal control system?
A)Control activities
B)Delay payment of liabilities
C)Risk assessment
D)Control environment

Question

Quizplus · Accepted Answer

Delaying payment of liabilities is not a primary component of an internal control system. The primary components of an internal control system are control environment, risk assessment, control activities, information and communication, and monitoring. Delaying payment of liabilities may help to manage cash flow, but it is not a primary component of internal controls.

Which One of the Following Is Not a Primary Component