When Using Parallel Simulation,audit Teams Prepare a Computer Program to Duplicate

question 55

True/False

When using parallel simulation,audit teams prepare a computer program to duplicate the logic and computer controls in the client's computer program.

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Definitions:

Conspicuous Consumption

The purchase and use of goods and services to publicly display wealth rather than to meet basic needs.

Thorstein Veblen

An American economist and sociologist best known for his theory of the leisure class and criticisms of capitalism.

Karl Marx

A 19th-century philosopher, economist, and revolutionary socialist who developed the theory of Marxism.

Paper Loss

indicates a loss that has occurred on paper due to a decrease in the market value of an investment, but has not yet been realized through a sale.