Which of the Following Is Not a Normal Edit Test

question 14

Multiple Choice

Which of the following is not a normal edit test as part of computerized control for checks?

• A)Field checks.
• B)Self-checking digits.
• C)Cross-references.
• D)Reasonableness tests.

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Definitions:

First-In, First-Out

An inventory valuation method where goods purchased or produced first are sold or used first.

Inventory Method

Inventory methods are accounting approaches used to value and manage a company's inventory, including techniques like FIFO (First In, First Out) and LIFO (Last In, First Out).

Most Recent Costs

refers to the latest expenses incurred, often used in inventory valuation to assume that the costs of the most recently acquired items are the first to be assigned.

Cost Of Goods Sold

Expenses directly related to manufacturing goods a company sells, including labor and materials.