List and briefly describe the limitations of the system of, Financial Accounting

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List and briefly describe the limitations of the system of

1. List and briefly describe the limitations of the system of internal control.

2. What is the concept of segregation of duties as it relates to internal controls?

3. Discuss briefly the output necessary for effective and efficient custodial and financial control of fixed assets.

4. Discuss several factors affecting (negatively or positively) the achievement of systems development objectives.

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