Why Would a Merchandising Company Need Good Internal Controls Related

question 27

Essay

Why would a merchandising company need good internal controls related to its inventory? List three of the key elements of an internal control system that would apply to inventory,and explain how each of them does relate to inventory.

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Definitions:

Non-profit Groups

Organizations that operate for the collective, public, or social benefit, rather than to generate profit for owners or investors.

Ethical Development

The process of learning and embodying principles of right conduct, often involving the understanding and application of moral frameworks and guidelines.

Postconventional

pertains to a stage of moral development where individuals make ethical decisions based on universal principles of justice and rights, transcending societal norms.

Nicotine

A potent chemical found primarily in tobacco plants, known for its stimulating effects and high addictive potential.