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Which of statements is not true regarding internal control

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Reference no: EM133000937

Problem 1: Which of the following statements is not true regarding internal control procedures?

Option 1: Internal control procedures include methods for achieving compliance with laws and regulations.

Option 2: Internal control procedures are designed to protect company assets.

Option 3: Internal control procedures help managers control and monitor business activities.

Option 4: Internal control procedures are not affected by the cost-benefit principle.

Option 5: Internal control procedures are designed to ensure reliable financial reporting.

Reference no: EM133000937

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