For Companies That Use a Perpetual Inventory System, All of the Following

question 189

Multiple Choice

For companies that use a perpetual inventory system, all of the following are reasons for taking a physical inventory except

• A) to check the accuracy of the records.
• B) to determine the amount of wasted raw materials.
• C) to determine losses due to employee theft.
• D) to determine ownership of the goods.

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Definitions:

Data and Information

Data refers to raw, unprocessed facts, while information is data that has been processed in a way that is meaningful to the user.

IT Security

The practice of defending computers, servers, mobile devices, electronic systems, networks, and data from malicious attacks and unauthorized access.

Organization

An arranged group of people with a particular purpose, such as a business, government department, charity, or club.

Information Security

Protecting an organization’s information and information systems from unauthorized access, use, disclosure, disruption, modification, or destruction.