When Performing an Internal Control Audit Under PCAOB Standards,one or More

question 23

Multiple Choice

When performing an internal control audit under PCAOB standards,one or more material weaknesses in internal control that exist at year-end will result in what type of report(s) ?
$\begin{array} { c c c } & \quad\quad \text { Qualified } & \text { Disclaimer} \\\end{array}$
A- $\begin{array} { c c c } \quad\quad\quad\text { Yes } &\quad\quad\quad \text { Yes } \\\end{array}$
B- $\begin{array} { c c c }\quad\quad\quad \text { Yes } &\quad\quad\quad \text { No } \\\end{array}$
C- $\begin{array} { c c c } \quad\quad\quad\text {No} & \quad\quad\quad\quad\text { Yes } \\\end{array}$
D- $\begin{array} { c c c }\quad\quad\quad \text { No } &\quad\quad\quad\quad\text { No }\end{array}$

• A)Option A
• B)Option B
• C)Option C
• D)Option D

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Definitions:

Model Minority

A demographic group (whether based on ethnicity, race or nationality) perceived to achieve a higher degree of socioeconomic success than the population average, thus serving as a benchmark for others.

Asian Americans

A diverse group of Americans of Asian descent, encompassing numerous ethnicities, cultures, and heritage backgrounds, often dealing with unique social, economic, and political challenges.

Obstacles To Success

The various barriers or challenges that individuals or groups face which hinder their ability to achieve personal goals or societal progress.

Black Middle Class

A socio-economic segment of the African American population characterized by moderate to high levels of education, income, and professional achievement.