Which of the Following Controls Can Minimize the Threat of Mistakes

question 52

Multiple Choice

Which of the following controls can minimize the threat of mistakes in counting incoming inventory?

• A)The use of positive pay.
• B)Do not inform receiving employees about quantity ordered.
• C)The use of ERS.
• D)Perpetual inventory system.

---

Definitions:

Balance Sheet

A balance sheet that concisely represents a corporation's financial assets, liabilities, and the equity interests of its shareholders as of a definite date.

Credit

A mutual agreement in which a borrower receives something of value now and agrees to repay the lender at a later date with terms specified.

Owner's Equity

The residual interest in the assets of the entity after deducting liabilities, representing the ownership portion of a company's assets.

Asset

Resources owned or controlled by a company, expected to provide future economic value or benefits.