Question

A small private entity may use less formal means to ensure that internal control objectives are achieved. For example, extensive accounting procedures, sophisticated accounting records, or formal controls are least likely to be needed if
A. Management is closely involved in operations.
B. The entity is involved in complex transactions.
C. The entity is subject to legal or regulatory requirements also found in larger entities.
D. Financial reporting objectives have been established.

Answer 1

I need help on this too