The AICPA's Trust Services Criteria Practice That States That Customers

question 96

Multiple Choice

The AICPA's Trust Services Criteria practice that states that customers should have access to the data provided so that the customer can view, change, delete, or block further use of the data provided is under the title of:

• A)Access
• B)Choice and consent
• C)Security for privacy
• D)Use and retention

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Definitions:

Outstanding Checks

Outstanding checks are checks that have been written and recorded in the issuing company's ledger but have not yet been cashed or cleared by the bank.

Deposits In Transit

Refers to money that has been received and recorded by a business but has not yet been recognized by the bank by the end of the accounting period.

Outstanding Checks

Checks that have been written and recorded in a company's financial records but have not yet been cashed or cleared by the bank.

Deposits In Transit

Funds that have been deposited by a company but not yet credited to its bank account.