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1 December, 13:53

A material weakness involves a reasonable possibility that what size misstatement will not be prevented or detected?

- Immaterial.

- Material.

- More than inconsequential.

- Substantial.

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Answers (1)
  1. 1 December, 17:07
    0
    - Material

    Explanation:

    A material weakness arises when the internal control systems of a company which are designed to prevent or detect significant financial misstatements are ineffective. As a result, there is a likelihood that the material weakness could result into material misstatements in the company's financial statements.
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