Test Data May Be Used to Test Application Controls Over

question 37

Multiple Choice

Test data may be used to test application controls over accepting and recording data for unpaid suppliers' invoices. Which of the following conditions would not be relevant:

• A) numeric characters in an alphanumeric field.
• B) missing or invalid supplier numbers.
• C) missing due date or payment terms.
• D) alphabetical characters in a numeric field.

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Definitions:

Discount

A reduction from the usual cost of something, often applied to promote sales or incentivize early payment.

Investment

Committing financial assets with the objective of receiving income or profit in return.

GIC

A Guaranteed Investment Certificate (GIC) is a Canadian investment that offers a guaranteed rate of return over a fixed period.

Monthly Interest

Monthly interest is the amount of interest earned or paid on an investment or loan calculated and paid on a monthly basis.