Control Risk Refers to the Risk That a Misstatement Could

question 20

True/False

Control risk refers to the risk that a misstatement could occur in an assertion about a class of transaction, account balance, or disclosure and that could be material, either individually or when aggregated with other misstatements, will not be prevented, or detected and corrected, on a timely basis by the entity's internal control.

---

Definitions:

Mobile Sources

Objects or devices that emit pollutants and are capable of moving, such as cars, trucks, buses, and airplanes.

Environmental Impact Statement

A document that outlines the significant effects on the environment of a proposed federal agency action.

Federal Land

Federal land refers to land owned by the federal government of a country, and it may be used for various purposes such as parks, forests, wildlife refuges, or military bases.

Environmental Impact Statement

A document required by law that outlines the environmental effects of proposed construction or development projects.