The Control Goal of Ensure ______________________________ Provides Assurance That All

question 99

Short Answer

The control goal of ensure ______________________________ provides assurance that all valid objects or events which were entered into the computer are in turn reflected in their respective master data once and only once.

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Definitions:

Sales Tax Payable

A liability account in the general ledger that stores the amount of sales tax collected from customers, which is owed to the government.

FOB Shipping Point

A term used in shipping agreements indicating that the buyer takes ownership and responsibility for goods once they are shipped, and is responsible for freight costs and risks.

Accounts Receivable

Outstanding balances due to a company from its clients for products or services rendered but still unpaid.

FOB Shipping Point

A shipping term indicating that the buyer assumes responsibility for the goods and the shipping costs from the point of departure.