Internal Control Activities Within the Purchasing Process, Identified as Adequate

question 16

Multiple Choice

Internal control activities within the purchasing process, identified as adequate records and documents, would include which of the following?

• A)Files are to be maintained for purchase requisitions, purchase orders, receiving reports, and invoices.
• B)Periodic physical inventory counts are to be reconciled with the inventory ledger.
• C)Companies are to implement controls where the corresponding benefit exceeds the related cost.
• D)Avoid having the same individuals who handle the inventory also have access to the related accounting records.

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Definitions:

Locus of Control

A psychological concept that refers to people's beliefs about the extent of control they have over events in their lives.

Reinforcement Value for Good Health

The perceived benefits or rewards that individuals associate with engaging in health-promoting behaviors.

Aggressive Acts

Behaviors intended to harm or injure another being who is motivated to avoid such treatment.

Viewing Aggression

The act of observing or interpreting aggressive behavior in oneself or others.