Which of the Following Is Least Likely to Represent a Material

question 7

Multiple Choice

Which of the following is least likely to represent a material weakness in internal control for Flynt Corporation?

• A)Flynt Corporation's computer systems were not working properly for two days; consequently, employees needed to do all reconciliations manually.
• B)Flynt Corporation's CFO was arrested last year for embezzling money from the entity.
• C)For the current year, the auditor found a material misstatement in Flynt's sales recognition that was undetected by the internal controls.
• D)Flynt's audit committee is deemed to be ineffective.

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Definitions:

Overworked

A condition in which an individual works excessively to the point it negatively affects their health, well-being, and personal relationships.

Service Continuum

The range of offerings companies bring to the market, from the tangible to the intangible or the product-dominant to the service-dominant.

Tangible

Something that can be perceived by touch; having physical form or substance.

Intangible

Something that cannot be touched or physically measured, often relating to non-physical assets or values.