What is the difference between a material weakness and a significant deficiency in internal control.

a) A material weakness is a deficiency in internal control that is less severe than a significant deficiency.
b) A significant deficiency is a deficiency in internal control that is less severe than a material weakness.
c) A material weakness is a deficiency in internal control that could result in a material misstatement in the financial statements, while a significant deficiency is a deficiency in internal control that is less severe.
d) A significant deficiency is a deficiency in internal control that could result in a material misstatement in the financial statements, while a material weakness is a deficiency in internal control that is less severe.
Answer: c) A material weakness is a deficiency in internal control that could result in a material misstatement in the financial statements, while a significant deficiency is a deficiency in internal control