A clerk accidentally posts a prenumbered sales invoice of $625 as $265 to a customer's account. What control would detect this error?
A) A hash total of the invoice numbers
B) A sequence check of the numbers of the invoices which are to be posted
C) A document count of the invoices
D) A control total of the amounts to be posted
Answer: D
Business
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You purchase 10 bonds with a coupon rate of 9% and a current market price of 101.125. The commission charge is $5.00 per bond. The date of the transaction is October 1, and the bond pays interest on January 1 and July 1. What is your total purchase price?
A) $10,392.50 B) $10,387.50 C) $10,395.10 D) $10,391.90
Business