This Tests a Numerical Amount to Ensure That It Does

question 30

Multiple Choice

This tests a numerical amount to ensure that it does not exceed a predetermined value nor fall below another predetermined value.

• A) completeness check
• B) field check
• C) limit check
• D) range check

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Definitions:

Opening Balance Equity

An account used in accounting software to offset discrepancies when establishing opening balances during the initial setup of the financial records.

Accounts Receivable

Money owed to a business by its customers for goods or services delivered but not yet paid for, considered an asset on the balance sheet.

Supplies On Hand

The inventory of materials and goods currently available in a business for use or sale.

Adjustment

A process of altering financial records or accounts to correct any discrepancies or errors.