An Action Taken to Prevent,detect,and Correct Errors and Frauds in Transactions

question 89

Multiple Choice

An action taken to prevent,detect,and correct errors and frauds in transactions is referred to as a

• A) Control objective.
• B) Risk assessment.
• C) Dual-purpose test.
• D) Control activity.

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Definitions:

Ratio Form

A mathematical expression that represents the relationship between two numbers or variables as a fraction.

Average Total Assets

A financial metric that represents the average value of all a company's assets over a specified period.

Return On Assets

This ratio indicates how efficiently a company uses its assets to generate profit, calculated as net income divided by total assets.

Ratio Form

A presentation format for financial statements or equations where components are displayed as a proportion of a whole.