The Results of a Generalized Audit Software Simulation of the Aging

question 13

Multiple Choice

The results of a generalized audit software simulation of the aging of accounts receivable revealed substantial differences in the aging contribution,even though grand totals reconciled.Which of the following should the IS auditor do first to resolve the discrepancy?

• A)Recreate the test,using different software.
• B)List a sample of actual data to verify the accuracy of the test program.
• C)Ignore the discrepancy because the grand totals reconcile and instruct the controller to correct the program.
• D)Create test transactions and run test data on both the production and simulation program.

Identify strategies for the prevention and control of infectious diseases.

Understand the concept of immunity and how vaccines work.

Describe the role of the body’s defense mechanisms in preventing infectious diseases.

Recognize the distinction between acute, chronic, and latent infections.

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Definitions:

Economic Profit

The separation between whole income and all charges, factoring in both straightforward and subtle costs.

Excess Capacity

The situation where a firm is producing less than the maximum output due to lack of demand.

Profit-Maximizing Rule

A principle stating that profit maximization occurs when a firm's marginal cost equals its marginal revenue.

Perfectly Competitive

Describes a market structure where many firms sell identical products, there are no barriers to entry or exit, and all firms are price takers.