You Are Performing the Audit of Internal Control for Clifton

question 53

Multiple Choice

You are performing the audit of internal control for Clifton Company. Which of the following would represent a material weakness in internal control?

• A) The company's audit committee has experienced an unusual turnover of members.
• B) The company's CFO was indicted for embezzling from the company.
• C) Bank reconciliations are done monthly.
• D) The CEO retired after twenty years of service to the company.

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Definitions:

Partial Reinforcement

A conditioning strategy in which a reward is not administered every time the desired behavior is performed, often leading to more resistant behavior change.

Reinforcers

Stimuli, which when presented after a behavior, increase the likelihood of that behavior being repeated.

Pathological Triangular Relationship

A dysfunctional pattern of interaction involving three parties, where conflict between two is avoided by offloading it onto a third party.

Disengaged Family

A family unit where members have weak emotional bonds, leading to a lack of support and communication among them.