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  3. control risk refers to a) the possibility that an

Control Risk refers to A) The possibility that an existing internal control will not prevent...

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Question

Accounting

Control Risk refers to

A) The possibility that an existing internal control will not prevent or detect a material error.

B) The possibility that a material misstatement that has occurred will not be detected on a timely basis by the company's control system

C) The possibility that a material misstatement that has occurred will not be caught be the independent auditor's testing

D) The possibility that a material misstatement will occur in the financial statements

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