Which of the Following Internal Control Procedures Is Most Likely

question 3

Multiple Choice

Which of the following internal control procedures is most likely to be used in order to maintain accurate inventory records?

• A)Perpetual inventory records are periodically compared with the current cost of individual inventory items.
• B)A just-in-time inventory ordering system keeps inventory levels at a desired minimum.
• C)Requisitions,receiving reports,and purchase orders are independently matched before payment is approved.
• D)Periodic inventory counts are used to adjust the perpetual inventory records.

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Definitions:

Marketing Mix

The mix of elements a company can manage to encourage consumers to buy its products, which encompasses product, price, location, and marketing.

BCG Matrix

A strategic business tool used to evaluate the relative performance of different business units or products based on market growth rate and market share.

High-growth Market

A market that is experiencing significantly higher rates of growth compared to others, often attracting a large amount of investment.

Low Market Share

A situation where a company or product holds a smaller percentage of the total sales within its industry compared to competitors.