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Inherent limitations of internal control

Question 1) What is COSO? What were the two principal purposes of its efforts regarding internal control, and why did it undertake these efforts?

Question 2) Identify and describe one of the inherent limitations of internal control.

Question 3) Identify and describe one of the six components of internal control.

Question 4) What is the control environment? Identify and describe one of the factors that comprise the control environment.

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Accounting Basics: Inherent limitations of internal control

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