A Batch of Business Events Is Accurately Entered into a Business

question 122

Short Answer

A batch of business events is accurately entered into a business event data, but the computer operator fails to use the data to update master data.This type of processing error would be classified as a(n) ____________________ error.

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Definitions:

Expenses

Costs incurred in the process of earning revenue, which are subtracted from revenues to calculate net income.

Financial Statements

Formal records of the financial activities and position of a business, person, or other entity.

Balance Sheet

A financial statement that provides a snapshot of a company’s financial position, showing assets, liabilities, and shareholders' equity at a specific point in time.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, indicating the net profit or loss.