The Accumulation of Source Documents and Records That Allows the Organisation

question 8

Multiple Choice

The accumulation of source documents and records that allows the organisation to trace accounting entries back to their initiation is the:

• A) audit trail.
• B) outsourcing code.
• C) initialisation procedure.
• D) substantiation record.

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Definitions:

Treasury Bills

Short-term government securities issued at a discount from the face value and redeemed at maturity for the full face value.

Escheats

The process by which unclaimed or abandoned property reverts back to the state.

Surviving Relatives

Family members who remain alive after an individual has passed away, often considered in legal contexts for inheritance or benefits.

Executor

The individual appointed to administer the estate of a deceased person in accordance with their will.