Act105 week 71 Study guides, Class notes & Summaries
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![Act105 week 7.1 Questions with 100% Correct Answers | Verified | Latest Update 2024](/docpics/4341231/65b3f88bb444c_4341231_121_171.jpeg)
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Act105 week 7.1 Questions with 100% Correct Answers | Verified | Latest Update 2024
- Exam (elaborations) • 4 pages • 2024
- Available in package deal
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- $9.49
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Question 1 of 10 10.0/ 10.0 Points 
Effective internal control systems successfully eliminate all misstatements in financial 
statements. 
A. True 
B. 
False 
Answer Key: 
False 
Question 2 of 10 10.0/ 10.0 Points 
SEC rules do not allow management to assert that a company has effective internal controls 
if: 
A.one or more material weaknesses exist. 
B.two or more material weaknesses exist. 
C.two or more immaterial weaknesses exist. 
D.one material weakness and one immaterial 
weakness exist. ...
![Act105 week 7.1 Exam 2023 Questions and Answers (100% Correct)](/docpics/4327575/65b23fca90214_4327575_121_171.jpeg)
-
Act105 week 7.1 Exam 2023 Questions and Answers (100% Correct)
- Exam (elaborations) • 4 pages • 2024
-
- $9.49
- + learn more
Question 1 of 10 10.0/ 10.0 Points 
Effective internal control systems successfully eliminate all misstatements in financial 
statements. 
A. True 
B. 
False 
Answer Key: 
False 
Question 2 of 10 10.0/ 10.0 Points 
SEC rules do not allow management to assert that a company has effective internal controls 
if: 
A.one or more material weaknesses exist. 
B.two or more material weaknesses exist. 
C.two or more immaterial weaknesses exist. 
D.one material weakness and one immaterial 
weakness exist. ...
![Act105 week 7.1 Review Exam 2024 Questions and Answers (100% Correct)](/docpics/4307925/65afc6adc6dad_4307925_121_171.jpeg)
-
Act105 week 7.1 Review Exam 2024 Questions and Answers (100% Correct)
- Exam (elaborations) • 4 pages • 2024
-
- $8.99
- + learn more
Question 1 of 10 10.0/ 10.0 Points 
Effective internal control systems successfully eliminate all misstatements in financial 
statements. 
A. True 
B. 
False 
Answer Key: 
False 
Question 2 of 10 10.0/ 10.0 Points 
SEC rules do not allow management to assert that a company has effective internal controls 
if: 
A.one or more material weaknesses exist. 
B.two or more material weaknesses exist. 
C.two or more immaterial weaknesses exist. 
D.one material weakness and one immaterial 
weakness exist. ...
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