Current Attempt in Progress

Which of the following statements is true in terms of an internal control system?

The extent of internal control activities adopted by a company must not be evaluated in terms of cost$-$benefit.

An internal control system cannot be considered effective until the possibility of human error has been eliminated.

A good internal control system will help a company achieve reliable financial reporting, effective and efficient operations,

and compliance with laws and regulations.

Only large companies need to be concerned with a system of internal control: