Failing to Record a Customer's Order for the Purchase of Inventory

question 47

Multiple Choice

Failing to record a customer's order for the purchase of inventory violates the control goal of:

• A) ensure input accuracy
• B) ensure input completeness
• C) ensure input validity
• D) ensure input accuracy and input validity

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Definitions:

Personnel Expenses

Costs associated with the compensation and benefits of a company's employees, including wages, salaries, bonuses, and benefits.

Planning Budget

A budget created for a specific level of activity that is used for planning and coordinating operations.

Budgeting

The process of creating a plan to spend your money, outlining anticipated income and expenses over a certain period.

Activity Variance

The difference between predicted and actual costs of business activities, used to assess performance and control costs.