Which of the Following Internal Control Procedures Most Likely Addresses

question 868

Multiple Choice

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

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