Tracing Back to Individual Business Events That Have Been Aggregated

question 36

Multiple Choice

Tracing back to individual business events that have been aggregated into account balances is done by means of a(n) :

• A) electronic reference service
• B) general ledger account
• C) audit trail
• D) data dictionary

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Definitions:

Controlling

A management function that involves monitoring and evaluating performance to ensure that organizational objectives are achieved efficiently and effectively.

Operating Results

The summary of a company's revenues, expenses, and net income or loss for a specific period of time, reflecting its business performance.

Expected Results

Anticipated outcomes or performance measurements, based on planned activities, goals, or strategies.

Management Process

The five basic management functions of (1) planning, (2) directing, (3) controlling, (4) improving, and (5) decision making.