To Track Employee Time Worked,an Audit Client Uses Pre-Numbered Timecards

question 49

Multiple Choice

To track employee time worked,an audit client uses pre-numbered timecards and accounts for their numerical sequencing.This control procedure relates to which control objective?

• A)Accuracy
• B)Completeness
• C)Validity
• D)Classification

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Definitions:

Short-Term Debt Securities

Financial instruments that represent borrowed money which must be repaid within a short period, typically less than one year.

Money Markets

Refers to the financial markets dealing with short-term borrowing, lending, buying, and selling with original maturities of one year or less.

Foreign Currency

Money or a form of currency that is used in a country other than one's own, typically involved in foreign exchange markets for trading or investment purposes.

Over-The-Counter Market

A decentralized market where securities are traded directly between two parties without a central exchange or broker.