Which of the Following Internal Control Activities Most Likely Addresses

question 23

Multiple Choice

Which of the following internal control activities most likely addresses the completeness assertion for inventory?

• A)The work-in-process account is periodically reconciled with subsidiary inventory records.
• B)Employees responsible for custody of finished goods do not perform the receiving function.
• C)Receiving reports are prenumbered and the numbering sequence is checked periodically.
• D)There is a separation of duties between the payroll department and inventory accounting personnel.

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Definitions:

Decision-Making Process

A series of steps that individuals or organizations follow to select a course of action from among several alternatives.

Team Members

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Situational Leadership Model

A theory that suggests that leaders must adapt their leadership style according to the maturity level of the followers and the demands of the situation.

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