A Material Weakness in Internal Control Over Financial Reporting (ICFR)

question 79

Multiple Choice

A material weakness in internal control over financial reporting (ICFR) is defined as _______.

• A)a deficiency, or a combination of deficiencies, in internal control over financial reporting
• B)a single deficiency in internal control over financial reporting
• C)multiple deficiencies in internal control over financial reporting
• D)any account balance that the auditor has concluded is incorrect by more than a predetermined percentage

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Definitions:

DNA Replication

The process by which a double-stranded DNA molecule is copied to produce two identical DNA molecules.

Histone

Type of protein that associates with DNA and structurally organizes eukaryotic chromosomes.

Nucleosome

Unit of chromosomal organization: a length of DNA wound twice around histone proteins.

Histone Proteins

Proteins that package and order DNA into structural units called nucleosomes, playing a role in gene regulation.