COGNITIVE ASSESSMENT What Is the Term for the Process of Comparing

question 96

Multiple Choice

COGNITIVE ASSESSMENT What is the term for the process of comparing data with a set of rules or values to find out if the data is correct?

• A) query
• B) verification
• C) procedure
• D) validation

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Definitions:

Equality

In accounting, the concept that the sum of debits must equal the sum of credits in a transaction.

Subsidiary Ledger

A detailed ledger that contains all the transaction details of a specific account, which is summarized in the general ledger.

Accounts Payable

Liabilities or money owed by a company to its creditors or suppliers for goods and services received but not yet paid for.

General Ledger

A comprehensive record of all financial transactions that occur within a company, organized by account.