Which of the Following Is a Strong Indicator That a Material

question 28

Multiple Choice

Which of the following is a strong indicator that a material weakness in internal control exists?

• A)Restatement of previously issued financial statements to reflect a correction.
• B)Inadequate controls over non-routine transactions.
• C)Inadequate controls over the period-end financial reporting process.
• D)Weaknesses in a control activity.

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Definitions:

Social Psychological

Pertaining to how individual thoughts, feelings, and behaviors are influenced by the social environment and presence of others.

Cognitive Association

The mental linking or relating of ideas, concepts, or stimuli, which plays a role in how thoughts and memories are organized.

Economic Deprivation

A state of lacking economic resources and essentials, leading to poor living conditions and limited access to goods and services.

Quick High

refers to a rapid onset of euphoria or intoxication from using certain substances, which is often short-lived and sought after by substance abusers.