An Edit Check Is a Good Audit Prevention Measure to Have

question 14

True/False

An edit check is a good audit prevention measure to have in place.

---

Definitions:

Percentage Change

A measure expressing the relative difference between a new value and an old value, often used to describe changes in financial or statistical data.

Gross Profit

The financial performance metric that subtracts the cost of goods sold from total revenue, indicating the efficiency of the core business activities.

Net Sales

The total revenue from sales minus returns, allowances, and discounts.

Cost Of Goods Sold

The direct outlays for materials and labor involved in the production of a company's goods for sale.