Verifying That an Adequate Chart of Accounts Is Used Is

question 101

Multiple Choice

Verifying that an adequate chart of accounts is used is a key internal control for the transaction-related objective of

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

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Definitions:

Four-For-Three Promotion

A sales promotion where customers receive four products for the price of three.

Computer Reports

Documents that summarize data or findings, often generated through computer software for analysis or performance tracking.

Revenue

Revenue is the total amount of income generated by the sale of goods or services related to a company's primary operations.

Business-Hour Usage

The utilization of services, resources, or facilities during the established operational hours of a business.