The Most Important Part of the Observation of Inventory Is

question 43

Multiple Choice

The most important part of the observation of inventory is to determine whether

• A) all counts are accurate.
• B) the inventory-takers are qualified.
• C) obsolete inventory has been identified.
• D) the physical count is being taken in accordance with the client's instructions.

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Definitions:

Real Defenses

Legal defenses that can be used to invalidate a negotiable instrument, such as forgery, fraud, duress, or incapacity.

Specified

Clearly stated or identified in a particular context or document.

Restrictive Indorsements

Endorsements placed on a negotiable instrument, like a check, that limit how the instrument can be used or further transferred.

Indorsements for Deposit

Signatures or statements on the back of a negotiable instrument, such as a check, indicating that it can be deposited into a specific account.