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ANC Company has recently acquired new accounting software to replace the old program that is already getting obsolete. There was an apparent inadequacy of training and supervision in the implementation and actual running of the program and it was realized that there was a better program that should have been purchased, it resulted to a lot of mistakes and delays in the processes. Which inherent limitation of internal control is best described in the given situation?   a. Management Override and Intervention   b. Lapse of Judgment and Collusion   c. Lapse of judgment and Breakdowns   d. None of these

ANC Company has recently acquired new accounting software to replace the old program that is already getting obsolete. There was an apparent inadequacy of training and supervision in the implementation and actual running of the program and it was realized that there was a better program that should have been purchased, it resulted to a lot of mistakes and delays in the processes. Which inherent limitation of internal control is best described in the given situation?   a. Management Override and Intervention   b. Lapse of Judgment and Collusion   c. Lapse of judgment and Breakdowns   d. None of these

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter7: Accounting Information Systems
Section: Chapter Questions
Problem 6MC: Which of the following is false about accounting information systems? A. They provide reports that...
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ANC Company has recently acquired new accounting software to replace the old program that is already getting obsolete. There was an apparent inadequacy of training and supervision in the implementation and actual running of the program and it was realized that there was a better program that should have been purchased, it resulted to a lot of mistakes and delays in the processes. Which inherent limitation of internal control is best described in the given situation?
 
a.
Management Override and Intervention
 
b.
Lapse of Judgment and Collusion
 
c.
Lapse of judgment and Breakdowns
 
d.
None of these
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