If you had limited time and resources that prevented you from designing a complete system of internal control for your organization, you would focus your scarce resources on setting up controls over:

Revenue transactions

Inventory

Cash

Capital assets

Expense transactions

Internal control at any organization is important because:

It eliminates financial statement fraud

It helps to safeguard assets, including cash

It detects all wrongdoing

None of the other alternatives are correct

It eliminates business failure