All of the Following Edit Checks for Online Editing of Accounts

question 54

Multiple Choice

All of the following edit checks for online editing of accounts receivable transactions would probably be included except

• A)validity checks on customer ID and invoice numbers.
• B)check digit verification on the amount of the sale.
• C)closed loop verification on the customer ID.
• D)field checks on the values in dollar fields.

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Definitions:

Cash Flow

The total amount of money being transferred into and out of a business, affecting its liquidity.

Receipts

Documentation of a transaction that provides proof of payment.

Disbursements

The act of paying out money, especially from a fund or account, for a specific purpose.

Single-entry Accounting

A simplified accounting method where transactions are recorded with a single entry, typically used by small businesses for tracking income and expenses.