An Edit Test Is Considered to Be Which Type of Control

question 85

Multiple Choice

An edit test is considered to be which type of control?

• A)An input control.
• B)A processing control.
• C)An output control.
• D)A supporting control.

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Definitions:

Present Value

The current valuation of upcoming cash flows or a lump sum of money, discounted at an established rate of return.

Sunk Cost

An expense that has already been incurred and cannot be recovered, which should theoretically not influence any future financial decisions or strategies.

Expensed

The act of charging costs to expense accounts, recognizing them in the income statement in the period they were incurred.

Operation

In a business context, operation refers to the day-to-day activities necessary for running a company, which can include production, distribution, and the provision of services.