A Material Weakness Involves an Amount That Could Result in a Misstatement

question 38

Multiple Choice

A material weakness involves an amount that could result in a misstatement that is:

• A)Smaller than inconsequential.
• B)Larger than inconsequential.
• C)Tolerable.
• D)Material.

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Definitions:

Wagner Act

a foundational statute of US labor law which guarantees basic rights of private sector employees to organize into trade unions, engage in collective bargaining, and take collective action such as strikes.

Taft-Hartley Act

A U.S. federal legislation enacted in 1947 that limits the functions and authority of labor unions.

Employee Rights

Refers to the legal protections and privileges granted to workers, including fair wages, safe working conditions, and freedom from discrimination.

Craft Union

A labor union representing workers specialized in a particular craft or trade, focusing on skills and training standards within that craft.