Why is the audit trail important?
The audit trail is used to track transactions from the source document to the financial statements and vice versa. Accountants use the audit trail to correct errors, answer queries, and perform audits.
You might also like to view...
When giving a sales presentation to new customers, Terrance strives to convey that he is highly ethical and trustworthy and that Swim-Tex products are safe and will perform as expected
Terrance is most likely addressing which aspect of Maslow's hierarchy of needs? A) security needs B) social needs C) esteem needs D) general needs E) physiological needs
Marlow Company purchased a point of sale system on January 1 for $3,400. This system has a useful life of 10 years and a salvage value of $400. What would be the depreciation expense for the first year of its useful life using the double-declining-balance method?
A. $2,320. B. $300. C. $2,720. D. $600. E. $680.
Which of the following statements is true of traditional goal setting?
A. Traditional goal setting assumes that employees know best and employs a bottom-up approach of setting organizational goals. B. Evaluation of performance is carried out concurrently with the flow of goals through the organization. C. Goals defined narrowly by top managers need to be made more directional as they flow down through the organization. D. Managers at each level define goals and apply their own interpretations and biases as they make them more specific.
It has been noted that dividing up groups and setting up barriers often introduces:
A) scrum. B) dysfunctional pair-programming teams. C) errors. D) redundant code for modules.