A Material Weakness Occurs When It Is Reasonably Probable or Possible

question 83

True/False

A material weakness occurs when it is reasonably probable or possible that a material misstatement of an account balance or disclosure would not be prevented/detected by an internal control.

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Definitions:

REAL Number

A value that represents a quantity along a continuous line, including all rational and irrational numbers.

Math Instructions

Commands in a programming language that perform arithmetic operations, such as addition, subtraction, multiplication, and division.

DIN Number

Deutsches Institut für Normung Number, a standard identification number for products and equipment specified by the German national standards organization.