Which of the Following Relatively Small Misstatements Most Likely Could

question 30

Multiple Choice

Which of the following relatively small misstatements most likely could have a material effect on an entity's financial statements?

• A) An illegal payment to a foreign official that was not recorded.
• B) A piece of obsolete office equipment that was not retired.
• C) A petty cash fund disbursement that was not properly authorized.
• D) An uncollectible account receivable that was not written off.

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Definitions:

Basic Motor Skills

Fundamental movements such as grasping, moving, and coordination that are typically developed during childhood.

Cultural Variations

Differences in customs, beliefs, practices, and social behavior among various cultures or societies.

Malnourished

A condition resulting from not consuming enough nutrients, leading to health problems like stunted growth and poor immunity.

Neurological Deficits

Impairments or losses in the functioning of the nervous system resulting from injury, disease, or a disorder affecting the brain, spinal cord, or other nerves.