Internal Control Activities Within the Purchasing Process, Identified as Adequate

question 4

Multiple Choice

Internal control activities within the purchasing process, identified as adequate records and documents, would include which of the following?

• A)Files are to be maintained for purchase requisitions, purchase orders, receiving reports, and invoices.
• B)Periodic physical inventory counts are to be reconciled with the inventory ledger.
• C)Companies are to implement controls where the corresponding benefit exceeds the related cost.
• D)Avoid having the same individuals who handle the inventory also have access to the related accounting records.

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Definitions:

Nervous System

An assembly of nerve cells and their fibrous connections that facilitate the transmission of nerve impulses among body regions, synchronizing bodily processes and perception.

Cerebral Cortex

The outer layer of the cerebrum in the brain, playing a key role in memory, attention, perception, cognition, awareness, thought, language, and consciousness.

Spatial Tasks

Activities that require individuals to visualize and manipulate objects in their mind, involving the perception and organization of space.

Cerebellum

A part of the brain located at the back of the skull, crucial for coordination and precision of voluntary movements, as well as balance.