Examlex
Which of the following is not a potential area of concern when an internal auditor places reliance on spreadsheets developed by users?
Double-Entry Bookkeeping System
An accounting method that records each transaction as both a debit and a credit in different accounts, ensuring the accounting equation stays balanced.
Single-Entry System
A rudimentary accounting method where entries are made in a single record, typically focusing only on cash flow and personal accounts.
Computerized Ledger System
A digital system for recording the financial transactions of a business or organization, providing an organized way to store, manage, and report financial data.
Business Transaction
An economic event or condition that changes an entity's financial statements, involving the exchange of goods, services, or funds.
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