Assuring That the Accounts Receivable Master Data Reflects All Cash

question 12

Multiple Choice

Assuring that the accounts receivable master data reflects all cash collections recorded in the cash receipts event data addresses the control goal of:

• A) ensure input accuracy
• B) ensure input completeness
• C) ensure update accuracy
• D) ensure update completeness

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Definitions:

John Astor

An American businessman who made his fortune in fur trading and real estate, becoming one of the wealthiest individuals in early 19th century America.

Fur Trade

The buying and selling of animal fur, historically a significant economic activity in North America and other parts of the world, often leading to exploration and conflict.

Napoleonic Wars

A series of major conflicts pitting the French Empire and its allies, led by Napoleon Bonaparte, against a fluctuating array of European powers.

Trading

The act of buying, selling, or exchanging goods, services, or financial instruments within domestic or international markets.