A Company Updates Its Account Receivable Master File Weekly and Retains

question 16

Multiple Choice

A company updates its account receivable master file weekly and retains the master files and corresponding transaction files for the most recent two-week period. What is the purpose of this practice?

• A) Permit reconstruction of the master file if needed.
• B) Match logical relationships to detect errors in the master file records.
• C) Verify run-to-run totals.
• D) Match logical relationships to detect errors in the master file records

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Definitions:

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A renowned work of German Renaissance art by Matthias Grünewald, notable for its vivid depiction of the Crucifixion and intricate panel designs.

Core CPI

A measure of the overall cost of consumer goods and services excluding food and energy.

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The cost of different forms of energy, such as electricity, gas, and oil, which can fluctuate based on supply and demand, geopolitical factors, and other influences.

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The interest rate before adjustments for inflation, representing the face value of borrowing costs.