In an Electronic Data Interchange Environment,the Audit Trail

question 11

Multiple Choice

In an electronic data interchange environment,the audit trail

• A)is a printout of all incoming and outgoing transactions
• B)is an electronic log of all transactions received, translated, and processed by the system
• C)is a computer resource authority table
• D)consists of pointers and indexes within the database

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Definitions:

Guarantees Payment

An assurance, typically from a third party, that payment will be made for goods or services received.

Blank Endorsement

A signature without any restrictions or instructions, allowing any holder of the document to execute a transaction.

Endorsed

The act of signing the back of a negotiable instrument, such as a check, thus transferring rights or title to another party.

Payee

The party in whose favor a check, draft, or note is made, entitled to receive the payment from the payer.