A Number of Edit Checks Should Be Performed to Ensure

question 93

Multiple Choice

A number of edit checks should be performed to ensure that all of the data required to process an order have been collected and accurately recorded.The edit check that compares a quantity being ordered to past history for that item and customer is called

• A)a validity check.
• B)a reasonableness test.
• C)a completeness test.
• D)a limit check.

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Definitions:

Cost of Goods Sold

The direct costs attributable to the production of goods sold in a company, including materials and labor.

Merchandise Inventory

The total value of all merchandise that a retailer, wholesaler, or distributor has on hand that is available for sale.

Cash Balance

The amount of cash held by a company at a given moment, reflecting its immediate liquidity.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company; this amount includes the cost of the materials and labor directly used to create the product.