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

question 33

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 warehouse manager 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:

Tactics

Short-term actions or strategies that are used to achieve a specific objective, often part of a larger strategy or plan.

Scenario Analysis

A process in strategic planning where various future states of the market or environment are evaluated to prepare or formulate strategies.

Process

A series of actions or steps taken in order to achieve a particular end.