Internal Controls That Should Be Applied When a Business Takes

question 120

Multiple Choice

Internal controls that should be applied when a business takes a physical count of inventory should include all of the following except:

• A)Prenumbered inventory tickets.
• B)A manager confirms that all inventories are ticketed only once.
• C)Counters confirm the validity of inventory existence,amounts,and quality.
• D)Second counts by a different counter.
• E)Counters of inventory should be those who are responsible for the inventory.

---

Definitions:

Output Effect

The impact on total output or production when a company expands its operations or when there is an increase in economic activity.

Increase In Rent

An upward adjustment in the payment required for the use of rental property, usually determined by market conditions or lease agreements.

Demand For Land

The desire and willingness of consumers or businesses to purchase land at given prices, influenced by factors such as location and potential for appreciation.

Price Of Steel

The cost at which steel is bought or sold, which can vary due to market demand, supply constraints, and global economic conditions.