Which of the Following Is an Example of a Data

question 45

Multiple Choice

Which of the following is an example of a data verification check?

• A) The system checks that a numerical amount in a field does not exceed some predetermined amount.
• B) As the system corrects errors and data are successfully resubmitted, the causes of the errors are printed out.
• C) The system returns an error message if the value entered in a field does not match one in a reference file of permissible values.
• D) After transaction data are entered, certain data are sent back to the workstation for comparison with data originally sent.

Understand and explain the effects of writing off accounts receivable on the accounting equation under the direct write-off method.

Distinguish between the various methods used for estimating uncollectible accounts.

Recognize the impact of uncollectible accounts on net realizable value and bad debt expense.

Calculate the net realizable value of accounts receivable and adjustments for bad debt expense.

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Definitions:

Insiders

Individuals who possess access to confidential information about a company or organization, such as employees, directors, or large shareholders.

Solicitation

The act of requesting or seeking to obtain something, often used in a legal context involving the procurement of goods, services, or funds.

Proxies

Agents authorized to act on behalf of others, particularly in voting at shareholder meetings.

SEC

The Securities and Exchange Commission, a U.S. federal agency responsible for regulating the securities industry and enforcing federal securities laws.