The process where the details of individual transactions at each stage of the business process can be recreated in order to establish whether proper accounting procedures for the transaction were performed is called:
A)Source document reconciliation
B)Range check
C)Validity verification
D)Audit trail

Question

The process where the details of individual transactions at each stage of the business process can be recreated in order to establish whether proper accounting procedures for the transaction were performed is called:
A)Source document reconciliation 
B)Range check
C)Validity verification
D)Audit trail

Quizplus · Accepted Answer

The process described is that of creating an audit trail, which is a record of individual transactions that can be traced back through the entire business process. This helps to ensure that proper accounting procedures are being followed at each stage. The other choices do not accurately describe this process.

The Process Where the Details of Individual Transactions at Each