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Figure 16.9
Using the figure above, identify the labeled structure(s) in each of the following questions.
-Identify the structure indicated by Label U.
Internal Control
Systems and processes designed by a company to ensure integrity and accuracy of financial and accounting information, promote accountability, and prevent fraud.
Inventory Storeroom
A storage area or space used for keeping goods or materials until they are sold or used in production.
Consignor
An entity that owns goods stored, shipped, or consigned to another party (the consignee) to sell.
Consignee
The name for the retailer in a consigned inventory arrangement.
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