Question: Chapter 0 5 Multiple Choice - Question 4 8 LO 5 - 5 When evaluating an internal control deficiency as part of a financial statement

Chapter

05

Multiple Choice

-

Question

48

5 - 5

When evaluating an internal control deficiency as part of a financial statement audit, the primary difference between a significant deficiency and a material weakness depends on:

Multiple Choice

whether a misstatement has actually occurred as a result of the deficiency or the deficiencies.

the magnitude of the potential misstatement resulting from the deficiency or the deficiencies.

All of the choices are correct.

Chapter 05 Multiple Choice - Question 48 LO 5-5 When evaluating

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