To Protect the Inventory,Globus Corp Wants to Assign the Custody

question 15

Multiple Choice

To protect the inventory,Globus Corp wants to assign the custody of inventory to a specific responsible individual.Globus can accomplish this by

• A)having a designated employee to authorize movement of inventory.
• B)requiring employees to have photo id cards.
• C)having restricted access to the production facility.
• D)performing frequent inventory counts.

Recognize the legal distinctions between direct and indirect actions that constitute the torts of assault, battery, and deceit.

Understand the principles governing torts related to property, including trespass and conversion.

Analyze the legal responsibilities and liabilities that arise in employment and reference-related torts.

Understand the concept of injurious falsehood and its impact on businesses.

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Definitions:

Internal Control

Systems and processes implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Unnumbered Checks

Unnumbered checks are checks that do not have a pre-printed sequential number, potentially raising security and tracking concerns within financial transactions.

Reference Source Documents

Original documents that provide evidence and details of business transactions, used for accounting and auditing purposes.

On-line Banking

The provision of banking services over the internet, allowing users to conduct financial transactions remotely.