Self-Checking Digits Are Used to Detect Which of the Following

question 30

Multiple Choice

Self-checking digits are used to detect which of the following errors?

• A) Processing data in the wrong sequence.
• B) Losing data between processing functions.
• C) Assigning a valid code to the wrong customer.
• D) Entering an invalid customer code.

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Definitions:

Accounting System

A systematic process of recording, analyzing, summarizing, and reporting the financial transactions of a business or individual.

Adjusting Entries

Journal entries made at the end of an accounting period to update account balances to reflect accurate financial activity and balances.

Prepaid Items

Expenses paid in advance for goods or services to be received or used in the future, such as insurance or rent.

Accrued Expenses

Costs that have been incurred but not yet paid or documented in the accounting records during a specific accounting period.