The Control Objective Associated with Selecting a Sample of Recorded

question 76

Multiple Choice

The control objective associated with selecting a sample of recorded sales invoices from the sales journal and matching the recording date to the shipping date per the shipping documents is ________.

• A)proper period
• B)completeness
• C)validity
• D)accuracy

---

Definitions:

ATC

Stands for Average Total Cost, which is the sum of all production costs divided by the quantity of output produced, encompassing both variable and fixed costs.

MC

Marginal Cost represents the change in total cost that arises when the produced quantity of a good is incremented by one unit.

Perfect Competitor

A market situation where numerous buyers and sellers exist, products are identical, and no individual buyer or seller can influence the market price.

Concentration Ratio

An indicator of the percentage of an industry's market controlled by its biggest companies.