The Big Insurance Company Implemented a New Computer System to Track

question 74

Multiple Choice

The Big Insurance Company implemented a new computer system to track and record insurance premiums receivable.The program automatically prints invoices and sends them to customers when premiums are due.Due to a program error,a whole series of invoices were included in sales but not in accounts receivable.The general balance-related audit objective affected by this activity is

• A)completeness.
• B)accuracy.
• C)classification.
• D)existence.

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Definitions:

Chemical Characteristics

Properties or behaviors of substances that describe their composition, reactivity, and the changes they undergo during chemical reactions.

Atom

The basic unit of a chemical element, consisting of a nucleus of protons and neutrons, and electrons orbiting the nucleus.

Matter

Anything that occupies space and has mass, composed of atoms or molecules.

Mass

A property reflecting the amount of matter within an object, commonly measured in kilograms or grams.