The Internal Control Objective of Accuracy Is Related to the Financial

question 18

Multiple Choice

The internal control objective of accuracy is related to the financial statement assertion of ________.

• A)occurrence
• B)completeness
• C)valuation
• D)presentation

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Definitions:

Monte Carlo Analysis

A problem-solving technique that uses random sampling and statistical modeling to estimate mathematical functions and simulate the probability of different outcomes in a process.

Average Service

The mean level of service quality provided by an organization, gauged over a specific period or across various service instances.

Random Process

A sequence of unpredictable events in which the outcome of any specific event cannot be accurately predicted.

Probability Distribution

A statistical function that describes all the possible values and likelihoods that a random variable can take within a given range.