In an Electronic Data Interchange Environment,the Audit Trail

question 11

Multiple Choice

In an electronic data interchange environment,the audit trail

• A)is a printout of all incoming and outgoing transactions
• B)is an electronic log of all transactions received, translated, and processed by the system
• C)is a computer resource authority table
• D)consists of pointers and indexes within the database

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Definitions:

Work in Process

Inventory that represents partially finished goods, which are still undergoing manufacturing processes.

Job-Order Costing

A cost accounting system used to accumulate costs per job rather than per time period, appropriate for customized products or services.

Job-Order Costing

Job-order costing is an accounting method used to track costs and evaluate the profitability of custom jobs, focusing on specific, distinct jobs or batches.

Predetermined Overhead Rates

An estimate of indirect costs used to allocate overhead expenses to products or services based on a specific activity base, recalculated for clarity.