Errors in Financial Statements Result from Mathematical Mistakes or Oversight

question 42

True/False

Errors in financial statements result from mathematical mistakes or oversight or misuse of facts that existed when preparing the financial statements.

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Definitions:

Tabular

Relating to or arranged in a table or systematic arrangement of data in rows and columns for easy reference and analysis.

Attribute

A property or characteristic of a data element, object, or entity in programming, databases, and web development.

Record

An individual entry in a database, consisting of several fields containing the data items.

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The symbols, including letters, numbers, and punctuation marks, that can be typed or displayed on a screen.