Problem 7-14 Points Hint-See Ch. 18 Place the correct response to each of the following on the answer sheet 1.Which must management communicate to the audit committee? Known Material Weaknesses Yes Yes Known Significant Deficiencies Yes A) Yes C) D) 2.Which must the auditor communicate to management? Known Significant Deficiencies A) B) C) D) Known Material Weaknesses Yes Yes Yes No Yes 0 3.According to PCAOB standards, determining the allowance for doubtful accounts is referred to as a(n) A. Substantive transaction. B. Routine transaction C. Nonroutine transaction. D. Accounting estimate transaction