One of the Most Critical Controls to Prevent Theft of Inventory

question 2

Multiple Choice

One of the most critical controls to prevent theft of inventory purchased is to:

• A)Require authorization of the purchase requisition
• B)Segregate inventory custody from inventory record keeping
• C)Compare the purchase order, receiving report, and invoice
• D)Segregate the authorization of purchases from the inventory record keeping

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Definitions:

Replacement

The process of substituting one element for another in a particular context, such as replacing a part in machinery or modifying a dataset.

Inferences

The process of drawing logical conclusions about a population based on sample data.

Sampling Distribution

The probability distribution of a given statistic based on a random sample, used to infer the population parameter.

Childcare

The care and supervision of a child or multiple children, usually from age six weeks to age thirteen.