INHERENT LIMITATION Definition

Bookmark and Share

INHERENT LIMITATION is whether the potential effectiveness of an entity's internal control is subject to inherent limitations, e.g., human fallibility, collusion, and management override.

Learn new Accounting Terms

PERSONAL ACCOUNTS represents money due to or due from a person or group of persons. For example, Accounts Payable - Suppliers is a personal account since this amount is payable to a supplier/suppliers.

STRIPPED PRICE, for a preferred stock, is the market price minus the theoretical dividend.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.