Match the concept in List 1 with the definition or description in List 2. There is only one correct or best answer for each match.

Match the concept in List 1 with the definition or description in List 2. There is only one correct or best answer for each match.

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February 17, 2022
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Match the concept in List 1 with the definition or description in List 2. There is only one correct or best answer for each match. Therefore, you should have three letters left over from List 1. List 1—Terms
Input accuracy
Input validity
Pervasive control plan
Preventive control
Process effectiveness goal
Control environment
Data maintenance update (of master data)
Information processing update (of master data)
List 2—Definitions
_ 1. The process of modifying the master data to reflect the results of new events.
_ 2. A control designed to keep problems from occurring.
_ 3. A control goal of the information process that is directed at ensuring that fictitious or bogus events are not recorded.
_ 4. A goal of an operations process that signifies the very reason for which that process exists; i.e., getting the job done.
_ 5. The highest level in the control hierarchy; a control category that is evidence of management’s commitment to the importance of control in the organization.

Answer and ExplanationSolution by a verified expert

Explanation
I will show the step by step instruction how to answer this kind of exam.

First read the definition properly, internalize the main purpose. Know the word-per-word meaning. Then find in the choices which best suits the definition.

#1

The process of modifying the master data to reflect the results of new events. - This would be Information Processing Update.

Key terms are already in the definition,

INFORMATION means DATA

PROCESSING, there's process in the sentence

UPDATE means there is something NEW.

#2

A control goal of the information process that is directed at ensuring that fictitious or bogus events are not recorded.

This means that you have to INPUT VALIDITY. This means that you must ensure all the information be true and recorded.

#3.

A control designed to keep problems from occurring. PREVENTIVE CONTROL PLAN.

From the word PREVENTIVE, this is keep problems or something undesirable from occuring.

#4.

A goal of an operations process that signifies the very reason for which that process exists; i.e., getting the job done. Process effectiveness goal.

This means that you ensure the effectiveness of the operations.

The highest level in the control hierarchy; a control category that is evidence of management's commitment to the importance of control in the organization. CONTROL ENVIRONMENT.

This means to ensure the safety of internal control.

Answer
IPU - The process of modifying the master data to reflect the results of new events.

IV- A control goal of the information process that is directed at ensuring that fictitious or bogus events are not recorded.

PCP - A control designed to keep problems from occurring.

PEG - A goal of an operations process that signifies the very reason for which that process exists; i.e., getting the job done.

CE - The highest level in the control hierarchy; a control category that is evidence of management's commitment to the importance of control in the organization.

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