Data Controls Over Payroll Processing Relate to Which of the Following

question 146

Multiple Choice

Data controls over payroll processing relate to which of the following assertions?

• A)Completeness and accuracy
• B)Accuracy and classification
• C)Completeness, accuracy, and classification
• D)Occurrence, completeness, accuracy, and classification

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Definitions:

Functional Currency

The currency of the primary economic environment in which an entity operates and generates cash flows.

Bond Interest Expense

The cost incurred by an entity for borrowing funds through bond issuance, payable to bondholders as interest.

Exchange Rates

Exchange Rates refer to the value of one currency for the purpose of conversion to another, indicating how much of one currency can be exchanged for another currency.

Foreign Subsidiary

A company that is owned or controlled by another company (the parent company) but is located in a different country.