In an Electronic Data Interchange (EDI)environment,when the Auditor Compares the Terms

question 38

Multiple Choice

In an electronic data interchange (EDI) environment,when the auditor compares the terms of the trading partner agreement against the access privileges stated in the database authority table,the auditor is testing which audit objective?

• A)all EDI transactions are authorized
• B)unauthorized trading partners cannot gain access to database records
• C)authorized trading partners have access only to approved data
• D)a complete audit trail is maintained

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Definitions:

Optimal Output

The level of production at which a firm maximizes its profits, determined by equating marginal cost and marginal revenue.

Market Price

The current market valuation at which services or products are exchanged.

Minimum Price

A set floor on the price at which a good or service can be sold, often used to ensure fair compensation for producers or to avoid market collapse.

Short Run

A period in economics during which at least one input, such as plant size or capital equipment, is fixed and cannot be changed.