The Combinations to Safes, Containers, and Vaults Should Be Changed

question 493

Multiple Choice

The combinations to safes, containers, and vaults should be changed at intervals of:

• A) Every three months
• B) Every four months
• C) Every six months
• D) Every nine months
• E) Every year

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Definitions:

Perpetual Inventory System

An inventory management method that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software.

Average Unit Cost

A costing method that calculates the cost per unit by dividing the total cost by the total number of units available for sale.

Perpetual Inventory System

A method of accounting for inventory that records the sale or purchase of inventory immediately through the use of computer systems.

Cost of Goods Sold

Costs directly incurred from the production of goods a company offers for sale, including labor and material costs.