Which of the following is a limitation of internal control?
I The accounting standards
II The cost of the controls
III The possibility of collusion between two or more employees

Question

Quizplus · Accepted Answer

The limitation of internal control includes the cost of the controls and the possibility of collusion between two or more employees. However, accounting standards cannot be considered a limitation of internal control as they provide guidelines and principles for implementing effective internal controls. Therefore, option A and B are incorrect. Option D is incorrect as it includes all three options, which is not accurate.

Which of the Following Is a Limitation of Internal Control