An Audit Trail

question 36

Multiple Choice

An audit trail

• A)provides the means to check the accuracy and validity of ledger postings.
• B)is provided by the ledger and the general journal.
• C)is automatically created in every computer-based information system.
• D)is a characteristic of interest.

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Definitions:

Permanent Residents

Individuals who are legally authorized to live and work in a country indefinitely, though they are not citizens of that country.

Exempt From Registration

Refers to securities or transactions that are not required to be registered with regulatory authorities due to specific conditions or exemptions.

Private Placement Offering

The sale of stocks, bonds, or securities directly to private investors rather than through a public offering, typically involving fewer regulatory requirements.

Registration Statement

A set of documents filed with a regulatory body, like the SEC, by a company intending to issue public stock or securities, providing essential financial and business information.