If an Auditor Were to Audit a Payroll Application Using

question 29

Multiple Choice

If an auditor were to audit a payroll application using around-the-computer auditing techniques, the individual would:

• A)Use test data
• B)Verify that the output from the computerized processing was correct for the input data used to generate it
• C)Never use a surprise audit because of the amount of time and work involved
• D)Prepare a profile of a computer file and check the processed data with the profile thus obtained

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Definitions:

Imports

goods or services brought into one country from another for sale, often influencing the domestic market's supply and price levels.

Trade Surplus

This occurs when a country's exports exceed its imports, indicating a positive balance of trade.

Trade Surplus

A situation where the value of a country's exports exceeds the value of its imports.

Trade Deficit

Occurs when a country's imports exceed its exports, leading to a negative balance in trade.