This Activity Serves as a Method to Confirm the Accuracy

question 35

Multiple Choice

This activity serves as a method to confirm the accuracy and completeness of data in the accounting system:

• A)Compensating control
• B)Independent checks
• C)Audit trail
• D)Supporting documentation

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Definitions:

Purchase Agreement

A legal document between a buyer and seller outlining the terms and conditions of a transaction or sale of goods, property, or services.

Survey

A drawing of the boundaries of a property prepared by a professional surveyor.

Encumbrances

Legal claims or liabilities attached to property that can affect its use, value, or transferability, such as mortgages or liens.

Discharging

The act of releasing someone from an obligation, such as a debt, duty, or legal liability, often through the payment or fulfillment of what is owed.