Which of the following is not a component of internal controls? A. Monitoring. B Inherent risk....
Which of the following is not a component of internal controls?
A. Monitoring.
B Inherent risk.
C. Control activities.
D. Control environment.
Homework Answers
SOLUTION
ANSWER TO THE PROBLEM IS - OPTION B INHERENT RISK .
Internal control is activity to moniter and control business activities so as to reduce chances of frauds and errors .
Internal control is an activity of monitering employees activity and controling them thus monitering , control activities , control environment are components of internal control but inherent risk is risk posed due to error or ommission in financial statements due to failure of internal control .
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Which of the following is not a component of internal
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A. Monitoring.
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