Which of the Following Is a Step Associated with Accessing

question 106

Multiple Choice

Which of the following is a step associated with accessing and preparing data for audit data analytics (ADA) ?

• A)Checking the completeness of the data set to be used for ADA
• B)Ensuring the match of ADA data with the balance sheet
• C)Presenting a data set or key information as a chart or other image
• D)Matching ADA with the general ledger

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Definitions:

Credit Sales

Credit sales are transactions where the customer purchases goods or services on account, agreeing to pay the supplier at a later date.

Finished Goods Inventory

The stock of completed products that are ready to be sold by a company.

Raw Materials Inventory

The stock of basic materials that are used in the manufacturing process and are awaiting to be processed.

Cost of Goods Sold

The immediate expenses associated with manufacturing the products a company sells, comprising both materials and labor.