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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