Which of the Following Is a Substantive Test of Transactions

question 30

Multiple Choice

Which of the following is a substantive test of transactions?

• A) Review personnel policies.
• B) Account for a sequence of payroll checks.
• C) Reconcile the disbursements in the payroll journal with the disbursements on the payroll bank statement.
• D) Examine printouts of transactions rejected by the computer as having invalid employee IDs.

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Definitions:

Liberalization

The process of eliminating restrictions and barriers to free trade or other economic activities, often to encourage economic development.