Which type of control prevents, detects, and corrects transaction errors and fraud?
A) general
B) application
C) detective
D) preventive
Answer: B
Business
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The balances of select accounts of Sandra, Inc
as of December 31, 2016 are given below: Debit Credit Building $140,000 Cash 8,000 Office Supplies 1,100 Furniture 5,000 Prepaid Insurance 450 Accumulated Depreciation-Furniture $3,000 Land 32,000 Accumulated Depreciation-Building 4,700 Accounts Receivable 2,300 The insurance has been prepaid until June 30, 2017. Determine the amount of total current assets reported on the balance sheet. A) $15,300 B) $9,100 C) $11,850 D) $9,550
Business