The Report Provided by PwC to Billy Muldoon, CFO, Identified

question 38

Multiple Choice

The report provided by PwC to Billy Muldoon, CFO, identified which material weaknesses?

• A) Inadequate controls over financial reporting
• B) Related party transactions, impaired assets and off-balance sheet entities
• C) Impaired assets, falsified bank account and facilitating payments
• D) Fictitious revenue, contingent liabilities and facilitating payments

---

Definitions:

Markup Percent

The percentage increase applied to the cost price of goods to calculate their selling price.

Selling Price

The amount of money for which a good or service is sold to the buyer.

Imported Tables

Digital or physical tables of data that are brought into a document or database from an external source.

Markup Percent

The rate at which the cost price of goods is marked up to determine their selling price.