Name Four Input Controls and Describe What They Test

question 93

Essay

Name four input controls and describe what they test.

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Definitions:

Account

A record or statement that keeps track of financial transactions or an arrangement with a bank to deposit, withdraw, or manage money.

Invoice

A document issued by a seller to a buyer that lists the products or services provided and specifies the amount owed for them.

Outstanding Balance

The amount of money owed that remains unpaid.

Payment

The act of transferring money or consideration from one party to another in exchange for goods, services, or to fulfill a legal obligation.