Valid input data are appropriately authorized and represent actual economic events and objects.

Question

Quizplus · Accepted Answer

Valid input data must be authorized, meaning they have been approved and verified by authorized personnel, and they also represent actual economic events and objects, which means they accurately reflect actual transactions and activities that have taken place within the organization. Invalid or unauthorized data can lead to errors in financial statements and misinterpretation of financial data, which can have serious consequences for the organization.

Valid Input Data Are Appropriately Authorized and Represent Actual Economic