Correcting Errors on Saved Documents Requires All of the Following

question 4

Multiple Choice

Correcting errors on saved documents requires all of the following except:

• A)One approach is to display the document,correct the error and then save the document again.
• B)The document can be voided and then create a new document.
• C)Delete the document and create a new document.
• D)Destroy the document to ensure there is no source for identity theft since that is more important than needing an audit trail.

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Definitions:

IFRS 9

International Financial Reporting Standard 9, dictating the accounting for financial instruments, including recognition, measurement, and impairment of assets.

Accounts Receivable

Money owed to a business by its clients or customers for goods or services delivered or used but not yet paid for.

Hedge

An investment made to reduce the risk of adverse price movements in an asset, typically involving taking an offsetting position in a related security.

Spot Rate

The current price at which a particular currency can be bought or sold for immediate delivery.