Which of the Following Is Necessary to Audit Balances in an On-Line

question 17

Multiple Choice

Which of the following is necessary to audit balances in an on-line IT system in an environment where updated information is written over existing information?

• A)A utility program which reconciles the subsidiary ledgers with the general ledger.
• B)Periodic dumping of transaction files.
• C)A well-documented audit trail.
• D)An integrated test facility.

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Definitions:

Behavioral Economists

Researchers and practitioners in the field of behavioral economics who study how the psychological and social factors affect individuals' economic decisions.

Tiramisu

An Italian dessert featuring layers of coffee-soaked ladyfingers, mascarpone cheese, cocoa, and sometimes liquor.

Neoclassical Assumption

A perspective in economics that assumes individuals have rational preferences, markets are capable of reaching equilibrium, and information is symmetrically distributed.

System 1

A term often used in psychology and behavioral economics, referring to the brain's fast, automatic, and intuitive approach to decision-making.