Data Corporation Has Just Computerized Its Billing and Accounts Receivable

question 30

Multiple Choice

Data Corporation has just computerized its billing and accounts receivable record keeping. You want to make maximum use of the new computer in your audit of Data Corporation. Which of the following audit techniques could not be performed through a computer program?

• A)Tracing audited cash receipts to accounts receivable credits.
• B)Selecting accounts to be confirmed on a random basis.
• C)Examining sales invoices for completeness, consistency between different items, valid conditions, and reasonable amounts.
• D)Resolving differences reported by customers on confirmation requests.

Acknowledge the significance of language in cognitive development, according to Vygotsky.

Comprehend the implications of overimitation in learning and cognitive development.

Recognize the importance of private speech in cognitive processing and self-guidance through tasks.

Understand the role of guided participation in the learning process.

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Definitions:

Board of Governors

An executive or administrative arm of an organization or system, often responsible for making key decisions and overseeing operations.

Reserve Requirements

Central bank regulations that set the minimum amount of reserves that must be held by commercial banks.

Money Supply

The money supply is the total amount of money—cash, coins, and balances in bank accounts—in circulation within a country's economy at a given time.

Discount Rates

Discount rates refer to the interest rate charged to commercial banks and other financial institutions for loans received from the central bank's discount window.