Which of the Following Is a Control Plan That Controls

question 11

Multiple Choice

Which of the following is a control plan that controls the entry of data by defining the acceptable format of each data field?

• A) document design
• B) written approval
• C) preformatted screens
• D) online prompting

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Definitions:

U.S. GAAP

United States Generally Accepted Accounting Principles, a framework of accounting standards, guidelines, and procedures used in the United States.

Foreign Exchange Risk

The potential for financial losses due to changes in exchange rates affecting the value of foreign-currency-denominated assets and liabilities.

Foreign Exchange Gain

Foreign Exchange Gain arises when a currency transaction results in receiving or paying fewer units of the home currency than initially anticipated due to exchange rate movements.

Option Strike Price

The predetermined price at which the holder of an option can buy (in the case of a call option) or sell (in the case of a put option) the underlying security.