What Is a Common Reported Type of Difference Regarding Confirmations

question 69

Multiple Choice

What is a common reported type of difference regarding confirmations?

• A) Goods have been returned.
• B) Goods haven't been received.
• C) Payment has already been made.
• D) all of the above

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Definitions:

Items Count

A measure or total of individual things or components.

Physical Inventory

The process of counting all physical goods and materials a company has in stock at a specific point in time.

Items Count

The process of tallying items in inventory, usually for the purpose of ensuring accuracy in stock levels and financial records.

Retail Method

An accounting method for inventory valuation in which ending inventory and cost of goods sold are determined by applying a constant gross margin percentage.