A Customer Forget to Include Her Account Number on Her

question 22

Multiple Choice

A customer forget to include her account number on her check,and the accounts receivable clerk credited her payment to a different customer with the same last name.Which control could have been used to most effectively to prevent this error?

• A)Closed-loop verification.
• B)Duplicate values check.
• C)Reasonableness test.
• D)Reconciliation of a batch control total.

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Definitions:

Rate of Return

A percentage representing the gain or loss on an investment over a specified period, relative to its cost.

Statistically Significant

A determination that a result from data analysis is likely not due to chance at a predetermined level of significance.

Observation Period

The specific time frame over which data is collected or observations are made, often used in statistical analyses and studies.

High Variance

Refers to a wide range of outcomes or values in a set of data, indicating a high level of volatility or risk.