Duplicate Checking of Calculations and Preparing Bank Reconciliations and Monthly

question 30

Multiple Choice

Duplicate checking of calculations and preparing bank reconciliations and monthly trial balances are examples of what type of control?

• A)Preventive control
• B)Detective control
• C)Corrective control
• D)Authorization control

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Definitions:

Job-Order Costing System

A methodology that assigns manufacturing costs to each individual product, allowing companies to track expenses for unique production orders.

Predetermined Overhead Rate

An estimated rate used to allocate manufacturing overhead costs to products or job orders, based on a particular activity base such as labor hours or machine hours.

Machine-Hours

A measure of production time, calculated as the total hours that machines are operating in the manufacturing process.

Job-Order Costing System

An accounting system that accumulates costs for each individual job or project, useful in custom manufacturing environments.