Which Statement Below Is True with Regards to an Audit

question 99

Multiple Choice

Which statement below is true with regards to an audit trail?

• A)An audit trail begins with the general journal.
• B)An audit trail provides the means to check the accuracy and validity of ledger postings.
• C)An audit trail is a summary of recorded transactions.
• D)An audit trail is automatically created in every computer-based information system.

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Definitions:

George Bush

Refers to either George H. W. Bush (41st President of the United States) or George W. Bush (43rd President of the United States), both members of the Bush political family.

Excise Taxes

Taxes levied on specific goods or services, such as alcohol and tobacco, often intended to discourage their use or raise revenue.

Progressive

A social or political ideology that advocates for reform and innovation, emphasizing progressive changes in society.

Direct Taxes

Taxes levied directly on an individual's or organization's income or wealth.