A Clerk Accidentally Posts a Prenumbered Sales Invoice of $625

question 43

Multiple Choice

A clerk accidentally posts a prenumbered sales invoice of $625 as $265 to a customer's account.What control would detect this error?

• A) A hash total of the invoice numbers
• B) A sequence check of the numbers of the invoices which are to be posted
• C) A document count of the invoices
• D) A control total of the amounts to be posted

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Definitions:

Long-Run Aggregate Supply Curve

A graphical representation showing an economy’s potential output level when all factors of production are fully utilized.

Labor Force

The total number of people available to work, including both the employed and those seeking employment but currently unemployed.

Net Investment

The total amount spent on new capital assets minus the depreciation on existing capital assets.

Autonomous Consumption

The part of consumption that does not change with income levels, representing basic necessities one must purchase regardless of income.