How Must Significant Deficiencies and Material Weaknesses Be Communicated to Those

question 100

Multiple Choice

How must significant deficiencies and material weaknesses be communicated to those charged with governance?

• A) Either oral or written communication is acceptable.
• B) Oral communication is required.
• C) Written communication is required.
• D) Written communication is required for material weaknesses, but oral communication is allowed for significant deficiencies.

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Definitions:

Substitutes

Products that serve similar purposes. An increase in the price of one will cause an increase in demand for the other (examples are hamburgers and tacos, butter and margarine, Chevrolets and Fords).

Cable TV

is a system of delivering television programming to consumers via radio frequency signals transmitted through coaxial cables.

Satellite TV

A television system that delivers programming to viewers by broadcasting from a communications satellite orbiting the Earth directly to the viewer's location.

Stock Market

This term refers to the aggregation of buyers and sellers of stocks, which represent ownership claims on businesses, including securities listed on public stock exchanges.