A Bank Wants to Reject Erroneous Account Numbers to Avoid

question 49

Multiple Choice

A bank wants to reject erroneous account numbers to avoid invalid input.Management of the bank was told that there is a method that involves adding another number at the end of the account numbers and subjecting the other numbers to an algorithm to compare with the extra numbers.What technique is this?

• A)Optical character recognition (OCR)software.
• B)Check digit.
• C)Validity check.
• D)Field (format)check.

Comprehend the impact of geology on landscapes and human activities, using specific examples.

Grasp basic astronomical concepts including the formation of the solar system, the nature of celestial bodies, and the forces acting upon them.

Understand the basics of retirement savings and pension plans, including the calculation of benefits based on salary averages and service years.

Comprehend the fundamentals of insurance policies, including term life insurance and the financial implications for the insurer and insured.

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Definitions:

Denominator Level

The quantity or level used in cost accounting as a divisor to allocate fixed costs among units of output, helping in understanding per unit costs.

Predetermined Overhead Rate

A rate used to allocate manufacturing overhead to products or job orders, calculated based on estimated costs and activity levels before the period begins.

Variable Overhead

Costs that fluctuate with the level of production activity, such as utilities for the manufacturing plant or commissions for sales staff.

Efficiency Variance

The difference between the actual amount of resources used in production and the amount that was expected to be used, indicating the level of efficiency in using materials, labor, and overhead.