Cutoff Procedures for Inventory Purchased Should Be Designed by Companies

question 139

Multiple Choice

Cutoff procedures for inventory purchased should be designed by companies to assure that

• A) inventory owned by the company has been received.
• B) inventory included in the year-end inventory count has been paid.
• C) inventory received before year-end was recorded before year-end.
• D) inventory was correctly valued at year-end.

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Definitions:

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A form of real-time communication through text messages exchanged between users over the internet.

OpenPgP Encryption

A non-proprietary protocol for encrypting email communication using public-key cryptography for increased security.

Pretty Good Privacy

An encryption program that provides cryptographic privacy and authentication for data communication.

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Hardware devices that connect and filter data between different devices on a computer network, using MAC addresses to forward data to the correct destination.