Which of the Following Is an Internal Control Weakness for a Company

question 52

Multiple Choice

Which of the following is an internal control weakness for a company whose inventory of supplies consists of a large number of individual items?

• A)Supplies of relatively little value are expensed when purchased.
• B)The cycle basis is used for physical counts.
• C)The storekeeper is responsible for maintenance of perpetual inventory records.
• D)Perpetual inventory records are maintained only for items of significant value.

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Definitions:

Computed F Statistic

A calculated statistic used in the context of ANOVA tests, assessing the significance of group differences across multiple groups.

SSR

In statistics, SSR stands for the Sum of Squares due to Regression, indicating the variation explained by the regression model.

SSE

Sum of Squares due to Error, a measure used in statistical analysis to quantify the dispersion of data points around a fitted line.

Multiple Coefficient

Often referred to as the coefficient of multiple determination in statistics, it measures the proportion of variance in a dependent variable that is predictable from independent variables.