Application Controls Are Designed to Prevent, Detect, and Correct Errors

question 182

Multiple Choice

Application controls are designed to prevent, detect, and correct errors and irregularities as transactions flow through the application. Application controls are classified into all of the following categories EXCEPT:

• A) Output controls
• B) Input controls
• C) Internal controls
• D) Processing controls

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Definitions:

Defined Benefit Pension Plan

A retirement plan where an employer promises a specified pension payment upon retirement, based on the employee's earnings history, tenure of service, and age.

Retired Employees

Individuals who have ended their professional career and are no longer working, often receiving pensions or living off retirement savings.

Employer Responsibility

The obligations and duties of an employer towards their employees, which can include providing a safe working environment and fair pay.

After-Tax Rate

The rate of return on an investment after accounting for taxes.