A Physical Count of Inventory Is Required Even Though the Company

question 201

Multiple Choice

A physical count of inventory is required even though the company uses the perpetual inventory system. This is an example of which of the following internal control activities?

• A)segregation of duties
• B)safeguarding of assets and records
• C)checks on recorded amounts
• D)clearly defined authority and responsibility

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Definitions:

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Auguste Comte

A French philosopher known for founding the discipline of sociology and developing the theory of positivism, advocating for the scientific study of society.

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An art movement originating in France in the late 19th century, characterized by small, thin brush strokes, open composition, and emphasis on depicting the visual impression of the moment.