Identify the Corrective Control Below

question 11

Multiple Choice

Identify the corrective control below.

• A)Reconciling the bank statement to the cash control account.
• B)Approving customer credit prior to approving a sales order.
• C)Maintaining frequent backup records to prevent loss of data.
• D)Counting inventory on hand and comparing counts to the perpetual inventory records.

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Definitions:

Units Transferred Out

In process costing, this refers to the finished units that are moved out of a production process to the next process or to finished goods inventory.

Processing Department

A division within a manufacturing facility where a specific stage of production is carried out.

Cost Per Equivalent Unit

A calculation used in process costing to allocate costs among units of production, considering units partially completed at the end of a period.

Equivalent Units

A concept used in process costing that converts partially completed units into a smaller number of fully completed units based on the percentage of completion.