Many of the Internal Controls Over Inventory and the Details

question 71

True/False

Many of the internal controls over inventory and the details of the entire inventory population can be tested using audit software.

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Definitions:

Programmed Decisions

Decisions that are routine and repetitive, for which algorithms or established procedures can be developed to handle them.

Organizational

Pertaining to the structured arrangement and management of an organization, including its processes, systems, and practices.

Passive

Characterizes a lack of action or inactivity, often referring to behaviors or attitudes where individuals do not actively engage or assert themselves in situations.

Spontaneous

Occurring naturally, without being planned or premeditated, often resulting from a sudden impulse or inclination.