Selecting a Sample of Payroll Summaries and Vouching the Details

question 26

Multiple Choice

Selecting a sample of payroll summaries and vouching the details to time records is a procedure designed to test the control objective of ________.

• A)environment
• B)validity
• C)completeness
• D)classification

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Definitions:

Significant Economies

Large-scale benefits or savings achieved through the efficient production or operation scale, often resulting in competitive advantage.

Competitors Copy

The act of rival companies imitating products, services, strategies, or practices of each other, trying to gain a competitive advantage.

Technology

Utilizing scientific understanding for real-world applications, primarily in the industrial sector.

Industry Wide Markets

Pertains to markets that encompass products, services, and consumers across an entire industry, rather than being limited to specific segments.