________ Is a Data Entry Input Control That Involves Summing

question 66

Multiple Choice

________ is a data entry input control that involves summing the first four digits of a customer number to calculate the value of the fifth digit,then comparing the calculated number to the number entered during data entry.

• A)Validity check
• B)Duplicate data check
• C)Closed-loop verification
• D)Check digit verification

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Definitions:

Payments to Vendors

Money transfers made by a business to its suppliers for goods or services received.

Demand Deposit

Bank accounts that allow the holder to withdraw funds without prior notice, such as a checking account.

Marketable Securities

Financial instruments that can easily be sold or converted into cash at a value close to their market rate.

Precautionary Demand

Precautionary demand refers to the desire to hold cash or easily liquidatable assets to safeguard against unexpected financial needs or market fluctuations.