Ask Question
BusinessBusiness
29 April, 15:13

A situation in which the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect material misstatements on a timely basis is referred to as a:A. Control deficiency. B. Material weakness. C. Reportable condition. D. Significant deficiency.

+2
Answers (1)
  1. 29 April, 18:29
    0
    Answer: (A) Control deficiency

    Explanation:

    The control deficiency is the type of situation in which the operation and the designing of the control are not allowing the management and an employee performing the various type of assigned function.

    The control deficiency process occur when the person are involving with the authority in the transaction cycle.

    This situation is usually occur in an larger type of an organization. The deficiency may be on the financial report that control internally.

    Therefore, Option (A) is correct.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A situation in which the design or operation of a control does not allow management or employees, in the normal course of performing their ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
A tile manufacturer had the following financial dа ta: Boxes of tile produced and sold 240,000 Sales Revenue $1,280,000 Variable Manufacturing cost $456,000 Fixed manufacturing cost $320,000 Variable selling, general and administrative expense
Answers (1)
Carla has applied for a loan. Which condition makes it likely that she will get an unsecured loan? She has a very good credit history. She is ready to pay a huge amount in interest. She is willing to put up her home as collateral for the loan.
Answers (1)
For nonprofit organizations, strategy is long-term thinking related to
Answers (1)
Jenny corporation (an s corporation) is owned entirely by craig. at the beginning of 2016, craig's adjusted basis in his jenny corporation stock was $20,000. jenny reported ordinary income of $5,000 and a capital loss of $10,000.
Answers (1)
Answer the given two questions relating to demand and the law of demand. A shift in the demand curve can be caused by: (a) a change in the price of a good. (b) a change in the technology used by firms.
Answers (1)
New Questions in Business
Fly-By-Night Couriers is analyzing the possible acquisition of Flash-in-the-Pan Restaurants. Neither firm has debt. The forecasts of Fly-By-Night show that the purchase would increase its annual aftertax cash flow by $370,000 indefinitely.
Answers (1)
Assume the M&M with corporate taxes. The corporate tax rate is 40%. Your firm is currently unlevered with 100% equity. As of now, the value of the firm's equity is $400K, and the firm's cost of capital is 10%.
Answers (1)
LO 5.5In a process costing system, which account shows the overhead assigned to the department? cost of goods sold finished goods inventory raw material inventory work in process inventory
Answers (1)
At tax season isn't an individual who has withheld too little and taxes can expect A. Prosecution by the IRS B. A heavy refund C. Additional withholding D. A large tax bill
Answers (2)
Which of the following best describes stagflation? a. rising unemployment together with economic growth b. deflation coupled with a decline of the money supply c. deficits coupled with rising unemployment d.
Answers (1)
Home » Business » A situation in which the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect material misstatements on a timely basis is referred to as a:A.
Sign Up Forgot Password?