If the likelihood that a material misstatement would be prevented, detected, or corrected by the controls in place, then the control risk is low in the revenue transaction cycle.

Name: If the likelihood that a material misstatement would be prevented, detected, or corrected by the controls in place, then the control risk is low in the revenue transaction cycle.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

If controls in place are effective in preventing, detecting, or correcting material misstatements, then the control risk is low.

If the Likelihood That a Material Misstatement Would Be Prevented