An effectively designed control may still represent a material weakness in the entity's internal control.Select one:TrueFalse

Exposure is the absence or weakness of a control which increases the firm's risk of financial loss.Select one:TrueFalse

Employee fraud typically occurs at levels above where the internal control system is effective.Select one:TrueFalse

In the revenue cycle, the internal control "limit access" applies to physical assets only.Select one:TrueFalse

Audit sampling is designed to enable conclusions to be drawn about an entire population on the basis of testing a sample drawn from it.Select one:TrueFalse

True or False: Data Mining can be said to be a process designed to detect patterns in data sets.Question 3Select one:TrueFalse