Question

A control report generated by a system that shows data about transactions that were accepted or rejected during a transaction processing step is called a(n):

1) violation report
2) exception and summary report
3) variance report
4) program change log

Answer 1

The report in question is called an exception and summary report. It is used to identify transactions that failed to meet set criteria during processing, aiding in data integrity and operational efficiency.

Step-by-step explanation:

A control report generated by a system that shows data about transactions that were accepted or rejected during a transaction processing step is called an exception and summary report. This type of report typically lists out all the transactions that did not meet certain predefined criteria, which could be related to input data validation, approval processes, or any other business rules. It allows managers and auditors to quickly identify and address issues with transaction processing, ensuring data integrity and operational efficiency.