An Accounting Error May Be All of the Following Except

question 57

Multiple Choice

An accounting error may be all of the following except:

• A) A mistake.
• B) An inaccurate estimate made in good faith.
• C) intentional.
• D) unintentional.

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Definitions:

Owner

The individual or entity that holds the rights, responsibilities, and risks associated with an asset or project.

Quality Audit

An independent review and examination of a project or process to evaluate its conformity to established standards, policies, and procedures.

Fixed Total Cost Contract

A type of contract where the contractor is paid a set amount for the work, regardless of the actual costs incurred.

Manager Of Vendor Contracts

An individual responsible for overseeing and managing contracts with suppliers and vendors, ensuring terms are fulfilled and evaluating performance.