The Extended Record Technique Provides a Way to Reconstruct an Audit

question 86

Multiple Choice

The extended record technique provides a way to reconstruct an audit trail by

• A) adding specific "dummy" test data processed by the system in the extended record for examination by the auditor after processing is complete.
• B) processing real data through a test program and comparing the simulated and regular output after processing is complete.
• C) capturing a detailed listing of the sequence of program statement executions in the extended record that would not normally be saved.
• D) tagging specific transactions and capturing intervening processing steps in the extended record that would not normally be saved.

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Definitions:

Debt

An obligation owed by one party, the borrower, to a second party, the lender; typically involving borrowed money that is expected to be paid back with interest.

Exchange Of Consideration

The act in a contract where something of value is traded between parties, forming the basis for mutual obligation.

Contract

A legally binding agreement between two or more parties that outlines obligations and provisions for the parties involved.

Postbox Rule

A legal doctrine that states that an acceptance of an offer becomes effective when it is posted, not when it is received by the offeror.