Solved

Presented Below Is a List of Terms Relating to Accounting

Question 138

Matching

Presented below is a list of terms relating to accounting information systems, followed by definitions of those terms.
Match the appropriate term with each definition. Each answer will be used only once.

Premises:

Responses:

Fidelity bond

A synonym for batch serial numbers

Tickler file

The expectation of a given transaction or event at a particular time

Suspense account

A contract with an insurance company that provides a financial guarantee of the honesty of the individual who is named in the bond contract

Anticipation

A synonym for a managerial audit

Corrective controls

A control total for items awaiting further processing

Input controls

Designed to prevent or detect errors in the beginning stage of processing

Authorization

An activity concerned with preventing and detecting fraud

Batch sequence

A control file consisting of items sequenced by age used for processing or follow-up purposes

Forensic accounting

These act to correct errors

Managerial audit

Limits the initiation of a transaction or performance of an activity to selected individuals

Premises:

Fidelity bond

Tickler file

Suspense account

Anticipation

Corrective controls

Input controls

Authorization

Batch sequence

Forensic accounting

Managerial audit

Responses:

A synonym for batch serial numbers

The expectation of a given transaction or event at a particular time

A contract with an insurance company that provides a financial guarantee of the honesty of the individual who is named in the bond contract

A synonym for a managerial audit

A control total for items awaiting further processing

Designed to prevent or detect errors in the beginning stage of processing

An activity concerned with preventing and detecting fraud

A control file consisting of items sequenced by age used for processing or follow-up purposes

These act to correct errors

Limits the initiation of a transaction or performance of an activity to selected individuals

Correct Answer:

Premises:

Responses:

Fidelity bond

Tickler file

Suspense account

Anticipation

Corrective controls

Input controls

Authorization

Batch sequence

Forensic accounting

Managerial audit

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