Processing Auditor Test Data Using the Client's Software Application _______

question 6

Multiple Choice

Processing auditor test data using the client's software application _______.

• A)will allow the auditor to verify that the software application is functioning as designed
• B)will allow the auditor to verify manual controls within the software application are functioning as designed
• C)may corrupt the client's system, and should not be attempted
• D)should be performed without the knowledge of the client's senior management

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Definitions:

Journal Entry

A record in accounting that shows the financial transactions affecting the accounts of a business.

Average Cost

Average Cost is a cost accounting method that calculates the cost of goods sold and ending inventory value by averaging the total cost of goods available for sale over the total units.

Subscription Sales

Income generated from selling access to a product or service over a period of time rather than as a single purchase.

Newsstand Sales

Revenue generated from selling publications, such as newspapers and magazines, directly to consumers through newsstands.