Which of the Following Is the Correct Definition of "Control

question 51

Multiple Choice

Which of the following is the correct definition of "control deficiency"?

• A) A control deficiency exists if the design or operation of controls does not permit company personnel to prevent or detect misstatements on a timely basis.
• B) A control deficiency exists if one or more deficiencies exist that adversely affect a company's ability to prepare external financial statements reliably.
• C) A control deficiency exists if the design or operation of controls results in a more than remote likelihood that controls will not prevent or detect misstatements.
• D) A control deficiency exists if the design or operation of controls results in a more than probable likelihood that controls will prevent or detect misstatements.

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Definitions:

Social Trend

Prevailing activities, behaviors, or opinions in a society at a particular time, often influencing consumer behaviors and marketing strategies.

Cardboard Core

The inner cylindrical component made of cardboard around which materials such as paper, tape, or fabric are wound.

Sherman Antitrust Act

A landmark federal statute in the United States passed in 1890 that prohibits monopolistic practices and promotes competition.

Prohibits Monopolies

Refers to laws or regulations designed to prevent the control of a market by a single entity, ensuring competition.