A)What Is Test Data Processing? B)How Is It Done? C)What

question 110

Essay

a)What is test data processing? b)How is it done? c)What are the sources that an auditor can use to generate test data?

Analyze and journalize business transactions and understand their effect on the accounting equation.

Compare and contrast accounting conventions and practices under GAAP and IFRS.

Understand the principles of double-entry accounting and the normal balance for various types of accounts.

Identify and apply the correct process for posting journal entries.

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Definitions:

Arbitrary Value

A value or figures assigned based on random choice or personal whim, rather than any reason or system.

Upper Limit

The maximum level or point that is considered acceptable or achievable.

Absolute Threshold

The minimum intensity of a stimulus that can be detected by the senses at least 50% of the time.

Difference Threshold

The smallest amount by which a stimulus must be changed in order to produce a noticeable variation in sensory experience.