Perpetual Inventory Master Files Maintained by Persons Who Do Not

question 3

Multiple Choice

Perpetual inventory master files maintained by persons who do not have custody of or access to assets are a useful cost accounting control, because:

• A) they provide a record of the use of raw materials and sale of finished goods, which can be reviewed for obsolete or slow- moving items.
• B) they are a record that can be used to pinpoint responsibility for custody when there are differences between physical counts and amounts shown on records.
• C) they provide a record of items on hand, which is used to initiate production or acquisition of additional materials or goods.
• D) all of the above.

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Definitions:

Existential Angst

A form of anxiety stemming from the fundamental uncertainties and inherent difficulties of human existence.

Object Relations Theory

A psychodynamic theory that focuses on the importance of internal relationships with others, formed during early development, in shaping the self and influencing social behavior.

Transference

In psychoanalysis, the process by which patients project onto their analysts feelings and attitudes they have developed toward important figures in their lives.

Countertransference

The process of a therapist developing emotional reactions to a patient, often influenced by the therapist's own personal background and psychological issues.